We have been watching this one very closely, Canadian Dollar has been very strong in recent days even with the strong Dollar on Friday, price continued to trade lower below the Momentum low. On Friday, some positive news for USD but bad reaction in USDCAD which suggests the pattern hasn't been completed. The way to look at this is very simple, Think like a Fundamentalist, Trade like a Technician. The fundamentals are Positive towards USD, but technically we must wait for failure to make a lower low. We have seen a failure from a lower time frame, and the invitation is accepted to go long from current level. BUY @ 1.3095 SL: @1.3080 Target@ 1.3374
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Price back above the momentum low. More buyers
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Price acceptance just above the Momentum Low.
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USDCAD still printing higher low from momentum low.