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Usdcadbuy

USDCAD will be messy....The dollar cad broke uptrend structure and now we are expecting some range bound trading until a clear direction is formed. At these levels, I am looking to enter a short position. BEAR CASE In the next week, I am expecting a slight move upwards to retest the bottom channel line and then for price to dump to retest 1.26 BULL CASE Though unlikely, we need to consider the case where there is one more push up to retest 1.30, if the bottom of the channel line doesn't give us the resistance that we are looking for, and serves as a support for a up move, we may enter a long trade.
Short
by IkanBilisCapital