USD/CAD: 4-hour

USD/CAD 4-hour Chart

The pair has been consolidating lately and has formed a falling wedge. Take note that falling wedges are normally reversal patterns. Combining this with the bullish divergence that's formed on the 4-hour chart, we could see the bulls jump in soon. Be on the lookout for a solid candlestick close above the 1.0000 mark as a sign that wedge has been broken. On the other hand, if we see price close below .9950, it may signal that the pair is headed for new lows.