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    USD/CAD: bearish shooting-star in down-trend signals continuation

       
    USD/CAD has formed a bearish shooting star in the midst of a strong short-term down-trending move. This, combined with resistance from the 10-MA which the pair backed into prior to forming the shooting star as well as bearish MACD increases the probability of further downside.

    A break below the shooting-star lows would probably be sufficient to confirm further down-side to a target at 1.1869, the height of the candlestick extrapolated lower.
    USDCAD14

       
    USD/CAD has formed a bearish shooting star in the midst of a strong short-term down-trending move. This, combined with resistance from the 10-MA which the pair backed into prior to forming the shooting star as well as bearish MACD increases the probability of further downside.

    A break below the shooting-star lows would probably be sufficient to confirm further down-side to a target at 1.1869, the height of the candlestick extrapolated lower.
    USDCAD14


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