Wait for double top to finish
Should bounce before coming up. It'll make a short LONG opportunity. The bigger trend is SHORT so this is somewhat riskier. Bigger opportunity is when it resumes downward movement.
This pair has generated close to 500 pips on hourly chart. Once again previous LONG is over, it's building up for a short.
The main interest isn't a short as much as what happens after this short. That is a nice beautiful LONG entry. The longer term trend is LONG, so be careful with shorting this, or keep a close eye on it.
Tried support twice, it is pending reversal into LONG direction.
Looking at OIL prices which heavily weigh in on the USDCAD Pair. Wait for Oil to bounce off and gain strong momentum before considering shorting USD Pair. USD is losing strength and so was Oil. Both of these forces created perfect balance of opposite resistances causing the volatility in this pair. Oil has to move with momentum to cause any meaningful gains from...