OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Here we can see on the hourly chart on USD/CAD that the upwards movements have been loosing momentum as each upwards move has taken longer periods, this can indicate a structure change which lines up well with technicals as it hit and bounced off a strong daily trend-line. Price broke the hour/ 4 hour red trend-line and has started to retrace, i am anticipating that it will hit the line which lines up well with a strong key level which is also at the previous higher lows and price will continue to move to the downside. We could be looking at a 75 pip trade to reach the 1.4 area however as soon as the trade reaches 40 pips i will move my SL to BE as significant US data will be released tomorrow which can cause upside movement


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