Disclaimer: I do NOT know what I am doing.
Based on Elliot Wave, recent consolidation, and Phi sequencing, the pullback for 'Merican production should fire up the movement.
Is the massive bull run ever going to stop as USDCAD is at a 5 year high? 3 rejections after attempts to create new highs on the 1 HR chart. RSI is losing strength as the price soars above the 200 SMA. Will USD maintain this bull train or is there going to be a change of season after the holidays? SELL! SELL! SELL!
*Trading is Risky*
Any and all liability is...
It appears we have hit a brick wall for the buyers, as the sellers take over with both 1hr and 15min charts showing a double top at a key blockchain price.
After analyzing the past couple hours I notice the bearish flag to continue the market trend with a bear breakout. 21 & 50 are consolidating into the 200 SMA looking to cross. A recent RSI divergence shows a weakening of the flag solidifying the bearish breakout. OANDA:USDCAD
