USD/CAD Charts Potential Bullish Reference Candle
The below is the daily chart of the USDCAD. Further to our previous article, yesterday’s candle may be a bullish reference candle (blue arrow). I.e. a candle with a higher low to either side of it. If today’s candle closes above yesterday’s high (green horizontal) it will give weight to the bullish reference candle scenario. The RSI (9) is moving above 50 (blue rectangle). If it continues to move up it will indicate a strengthening of the underlying momentum. We continue to monitor.
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