USD/CAD: Will the trend continue??

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
29 0
Overall trend on the daily is bearish how ever we've recently retraced up to the 23.6 FIB level - closing with type 1 candle close, we are currently awaiting for the bearish candle to close to finish off this week. My current bias is a trend continuation based on the strong candle close on the FIB level. If my analysis is correct we could be seeing over +300pips gain. Current stop loss is at 50 pips.

If this retracement is a reversal point then we may look to enter at the higher low for the swing up.

We shall see.........

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