News from Canada on Building permits were below consensus.
Moving averages curling down. I am looking for potential breakdown of 1.08732 low. Consider SHORT opportunities here. I am trying to find clues before breakdown as it could be difficult to trade it after the fact of breakdown because of potential lack of follow through after such a big move from 1.09800
So you have a short term momentum and fib extension pushing usd/cad down to 108.00
then you have a longer term momentum and fib extension pushing it down to 106.00