Quick preview of what to anticipate in the coming week on USDCAD. The medium to long term bias has turned bearish with some structural invalidations. We might find some buy opportunities on the intraday but the bias has turned bearish. We're keen to see how this one plays out. Happy Trading Week!!
Comment:
Price has managed to find support at the 1.2400 area, printing a couple of long wick candles on the daily timeframe. These are just signals of bullishness, not trade confirmations yet. We continue to wait for the trade.