USDCAD has formed a few lower-highs from the larger zone above. It also seems to be retesting off of the bottom side of this 1H trendline above. Looking at the bigger picture, price has broken out of its channel on the daily time frame and also has retested off of the bottom of it. Considering news, there is a ton of USD news starting at 8:30 with unemployment claims followed by the Services PMI at 9:45 and the ISM Services PMI at 10am. All that considered, price looks like its ready for a nice healthy drop to the downside. We're looking at about a 4:1 Profit loss ratio for this trade. I'll be waiting for this news at 8:30 am to pass and then look for an entry.