5 consecutive candles closed below the lower Bollinger band on the 30-minute chart of USDCAD pair. We have also a local low at 1.3369.
Currently, we expect to return to the falls, and a potential setup that can unleash a wave of sales will be breaking of the local low.
This situation will give the potential for falls, where the immediate target may be 200 percent extension of the downward movement, seen in the chart below M30. Setup will be invalid if, before breaking the local low, price closes above the lower Bollinger Bands.
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