- Fundamentally, the CAD is not looking very good, the GDP growth rate is down to -2.1 and all the other indicators are generally looking very bad for the CAD. - Technically, we were trapped in a range and on the 4HR new demand was created when a minor trend line was broken - Once we returned to this new demand zone, the 1HR created a nice ascending structure and the LTF created a nice TLBOB opportunity for a short.