Jroge107

USDCAD - Potential Weekly Reversal

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
Round two at an attempt for a USDCAD reversal. Price bounced off a ~4/5 year long trendline as well as the weekly candle looking as if it will not close below the lows of 2015 (highlighted in green) stochastics are showing a crossover and cross up, multi-TF MACD starting to curl, and multi-TF RSI already given one buy signal. USD could gain some strength after ISM numbers today, CAD PMI numbers fell short today, but Oil is likely to rise in the near future. This will will not be a fast reversal if it does happen.
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