FX:USDCAD U.S. Dollar/Canadian Dollar
After a quick reversal up on USDCAD , it looks like PA got stopped hard by the 61.8 fib level and reversed back to the downside. Given the overall weakness of the USD and the CAD economy becoming less commodity dependent, I would expect PA to continue moving down. Looking for a break of the lower channel and rising TL to look for an entry short position.
***** HOW TO READ THE CHART: The red and blue lines represent clusters of BUY/SELL orders. The thicker the line, the stronger the cluster. Red = SELL, Blue = BUY. Grayed Out = Cluster Hit & Gone.