Short bias as it retests the long term trendline.
Will be looking for a target of 125.8
On the hourly we can see rejection from a key resistance level.
Potential H&S. waiting for confirmation.
Will look for shorts and already have few entries.
usdcad has been bearish since the start of the week and expecting it to continue.
We have seen this pair range for a while now.
Its passed the resistance zone and now retested as support.
Potential target of 143.
USD/CAD is in range bound and expecting price to fall back to support line.
Price may bounce off this support - look for buy opportunities.
Waiting for the break of resistance then long positions.
If clearly rejected as previously done - Will look for shorts.
Sell positions after break off support now acting resistance.
Bullish trendline broken, more bearish momentum to come.
Wait for the retest. then take shorts.