FX:USDCAD   U.S. Dollar / Canadian Dollar
268 6 1
Price broke out of the upper boundary of the channel, only to comeback and test, then re-enter the channel.

If the 1.09500 area does not hold up, look for price to drop quickly to the 1.0610 area. There is little in the way in terms of horizontal support or resistance.

There is some support at the .50 fib area, but the strongest support is at the ,618 area.
Just posted a similar idea. Also consider RSI14 made lower tops also! :) I'm already in the trade, as the RR is very nice and I do think it's a high probability move.
USDCAD maade Higher High , I am waitting for Higher low Or same Low ! If made lower low after that I excpect moving down to 1.07 Not more
matt_forex Barzvar
While I see your point, and I initially saw the same high highs being made, I realized there is a larger trend line in play, that created a channel. Price action has a tendency after breaking the channel, then re-entering it, to test the lower channel trend line.

Further, CAD is a good derivative play on oil, with summer coming up, and traditionally the demand for oil increases, I can see the CAD gaining some strength.
Barzvar matt_forex
lets see...
MiladH Barzvar
I am agree Master ...
MiladH MiladH
I am agree Master Barzvar
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