Buy the rumors, sell the news right! Recently all the articles are talking about FED next rate cut and a strong euphoria came in the market, Gold 2 weeks consecutive arise from H4 Cypher pattern, instant reversed on NY session last Friday from a Bearish daily shark(TP haven't hit yet).
A little comparison of other pair, USDCAD Dropped 250pips one single week after a long period of consolidation achieved both Gartley TP 1 and 2 , and then, a Shark pattern for the pullback which rejected from 0.5 with a decisive bearish H4 candle with no wicks below.
considered the correlation with Oil price, it may send USDCAD to south if FOMC do make a Dovish comment on currently economic situation.
We will see if today's candle could closed above 61.8 resistance or not to determine the bias.
A little comparison of other pair, USDCAD Dropped 250pips one single week after a long period of consolidation achieved both Gartley TP 1 and 2 , and then, a Shark pattern for the pullback which rejected from 0.5 with a decisive bearish H4 candle with no wicks below.
considered the correlation with Oil price, it may send USDCAD to south if FOMC do make a Dovish comment on currently economic situation.
We will see if today's candle could closed above 61.8 resistance or not to determine the bias.