Technical: - The bullish total 3, formed on a daily chart with parameters of 70.7,113, 38.2 and 200 respectively. - RSI is still under 50 level, likelihood of continue to go bear. - The MACD still indicates bearish sentiment. - Looks like S1 needs to be retested. - Formation of 3rd drive is needed for suitable entry
Fundamentals: - Today at 1:15pm GMT daylight, NF employment change, 1:30pm Prelim Unit Labor Costs q/q and Fed Chair Yellen Speaks at 2:15 will be announced on US dollar. - The CAD at 3:00 pm Ivey PMI will be announced. - I expect these news events to give another drive down to support 1. - Likely of CAD to be stronger than USD today.
NB. As always your patience is needed to maximize profit. Stop loss in place as usual. If anything changes I will update.
good luck