So on the H4 time frame i can see a breakout of a longterm wedge pattern that was being formed. Now there are two key liquidity zones to be mindful of where we have had good price reactions from the 1.33000 and the 1.34000 handle Slightly higher you can also see the 1.34500 handle, now if we continue to press higher to here we could find our self a double top at a nice psychological price with downside potential down to my long region of 1.34000. This week we have had major earnings releases from major US companies that have been better than expected which have made the USD appreciate, which this in mind further better than expected earnings releases will strengthen the USD more allowing me to get long on this pair. A pullback to 1.3400 is favoured coinciding with a nice hourly up trend that is in in play. But with it being Wednesday and Oil data out this afternoon and the BOC speaking at 15:00, with the Interest rate decision aswell,we could see a pullback off some positive oil data and BOC data which will short term give CAD some strength due to benefiting off better oil prices and stronger monetary standings.
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So weak data out of Canada sees the price spike and bounce around 1.35000
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