if price goes below previuos HH(where bearish momstarted, look for short term LL and break of res) Current pos: formed a HL - break of decending trend look for structure change, enter on HL - ride t othe Highs of HH and maybe to break because on Weekly, its above structual retest area so could go long like a lot.
USDCAD has moved from overbought and with the RSI now 66.6 and falling I expect more downside to come. Stellar CAD jobs numbers on Friday should help push this pair south until Wednesday when we get the expected FED rate hike and the key FOMC Statement and Economic Projections.
For now this pair is soft.
SELL down to key support at 1.3389
LONG trades ...
This pair has been channeling for a very long time within a bearish flag pattern.
This pair seems to be breaking out of the channel
Price has also tested the previous low.
A break and close below signals a move down.
Some conservative traders, will prefer a break and resets of structure