I'm setting up for a strong NFP number on Friday and a gradual grind higher in the USD leading up to the December meeting of the FOMC, where I still don't think they will hike rates, but that's for another day. The USDCAD
has been forming a down channel
since late September but with strong support at 1.3040, and support holding previous at 1.2033, I'm expecting to break out of the channel and retest the high at 1.3450 prior to the December FOMC. The fundamentals of crude are unchanged I'm expecting a pullback from the recent grind higher. All this with the continued weakness in the EUR, I'm expecting a breakout in this pair.