USDCAD - 240 - Watch the Canadian numbers today
So the Canadian Unemployment numbers are coming out today at 13:30 UK time. Could make a few nice moves.
Now then, there are two scenarios - either it's going to go up or down (Captain Obvious right here =) ).
If it breaks the upper pink line, then there is a chance for re-testing the 2016 trend line.
But, if it will break the blue dash line, then I believe that we are forming a bearish flag on a bigger scale, which could lead to the break of the bottom long trend.
But, like always, keep an eye on the price action.
Now then, there are two scenarios - either it's going to go up or down (Captain Obvious right here =) ).
If it breaks the upper pink line, then there is a chance for re-testing the 2016 trend line.
But, if it will break the blue dash line, then I believe that we are forming a bearish flag on a bigger scale, which could lead to the break of the bottom long trend.
But, like always, keep an eye on the price action.