Given the previous bullish
momentum we had on Monday and Tuesday, and the overall bullish
momentum on the weekly, I personally wont be looking to short USDCAD
just yet. (Take note that price still has not broken and closed below the psychological key level of 1.2500).
I'll be waiting for confirmation on the 1H ( bullish
engulf preferably or bullish hammer
) before getting involved.
Ps: also make sure to watch out for any fundamentals during the day.
First Take profit will be set to 1.27800 respectively.
Lets see how this plays out.