Price bounced from the support at 1.3700, and is now heading to the resistance trendline. Price has validated this resistance trendline many times, so a rejection would indicate a short, and a breakout would indicate a long position. For now I will be looking at the shorter time frames such as 1h and 4h to look for buy opportunities up to 1.4300
Love the respect for the lower trend line boundary here. Near perfect closes and bounces from the green highlighted areas. The upper line is debatable but we'll jump that hurdle when (if) we get there. If the current candle closes again on or above the trend line I will enter a long position. Enjoy!
The USDCAD pair did not make newer higher, it could have been the completion of the 5th wave. Right now the price is wavering around the daily trend line. If the trend line is broken, we will look to continue shorting this pair on a retest of previous support/new resistance. Overall outlook for this pair is downwards. Waiting for a signal to enter.