USDCAD: Sitting at a Decision Point

After holding higher timerframe resistance the USDCAD has made 220+ pip move to the downside and has now found previous structure support.

I like to call this area a "decision point" when doing my analysis because a few trading opportunities are offered at this level depending on how price reacts.

1) IF support holds THEN we have a potential buying opportunity.

2) IF support fails THEN we have a potential selling opportunity as it turns to resistance

2) IF Support holds and retraces back towards the 1.3130's level THEN we also have a potential selling opportunity

These are the type of pairs that I put at the very top of my watch list as potential opportunities are right around the corner

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Eyes locked, looking for a potential short (option 2)

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Option (1st) 2...I just saw that I post multiple "2)'s"

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Stalking the 5 Range Bar Chart for entries. Currently looking at 1.3034's to get short

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Negative Canadian news this morning has pushed the USDCAD up to our Killzone. Still looking for entry reasons to get short