With the appearance of the hidden deviation on The Loonie price movement with its Stochastic Oscillator indicator that also happens to be on the Overbought level as well as the appearance of Bearish 123 pattern followed by Ross Hook (RH) so that based on those facts, USD/CAD has the potential to depreciated below up to the level 1.3261-1.3225. However, if on the way to the level that has been described, suddenly USD/CAD is corrected up again and up past the level of 1.3520, the downside scenario described earlier will become invalid and automatically cancel itself.
(Disclaimer)
