USD/CAD Weakening[private_GANN TRADING GROUP]
The USD/CAD forex pair has altered it’s upward momentum due to a weakening US Dollar.
The price to watch for further confirmation of a change in trend to downwards will be 1.24.
If closing prices for the hourly bars go below this price level and, especially if an entire hourly bar’s range is below 1.24, then this will be a very strong indication of a change in trend to the downside has begun. If so, then it will likely last for weeks.
This is a shorter-term analysis for shorter moves and not a mega-trend in the USD/CAD. – George[/private_GANN TRADING GROUP]