A quick note on the USD/CAD. Seems like we are on a strong support for three reasons:
1) 1.3300 Psychological level
2) Fibonacci level 0.628
3) Descending triangle on the 1hr/4hr
Expecting it to bounce back up (depending on what 's going on with the China/US trade talks)
We are seeing a Reverse H&S formation. It needs to hold the current level for it to confirm. We are also about to bounce from the 200 MA. It is oversold in my opinion. Might not happen right away, but I expect a bounce back up from here.
It seems like we're trying to break the 50 EMA on the 4Hr time frame. If it does, we will see strong upside movement. Also, I expect Oil to have a drawback before continuing it's rise. We received somewhat good data from the states today and DXY is quite strong.
