Just a little idea, 3rd bounced on uptrend (takeout area), price has pumped, consolidated, pumped and consolidated again. A nice bullish candlestick now on the 4 hour could be a good sign for a buy. Expect next pump to be as long as previous one. If price hits stop idea invalid therefore possible to make a great risk:reward!
Price has broken through the strong key level of 1.2700, pulled back and retested. The 18 EMA acting as a resistance and pushing price down now as price has just retraced to it, could possibly expect a spike up to maybe push up/through the 1.2700 level before price heads down. Price heading for previous low. stop top placed 15 pips above 1.2700 which is also above...
weakening, other currencies may grow in strength against USD
expecting a short to in the form of a retracment look for candlesticks for reversals
Would not touch unless price falls lower and reverses around trend line level
look for any signs with candlesticks for one of the the scenarios to appear.
Don't touch whilst consolidating. wait for clear trend to appear.
Could look for entries on the smaller timeframes, to jump on the uptrend to either the monthly level 1.1500 or to the 127% mark
USDCAD has been following a steady uptrend, following fib retracement's lately. It has just hit a monthly level 1.3400 and reversed, so price will be looking to smash through and hit fib extension levels or reverse off of the monthly key level.