With the break of the uptrend, I see the possible formation of a downtrend. The Weekend Gap is a good opportunity, since it will likely fill. This Weekend Gap looks like a good oscillation . Entry: 103.967
Long-Term Down Trend. Approaching Significant Resistance. The up trend starts when the next trend is broken. Otherwise, the down trend can continue at that trend line.
USD likely to have further losses ahead. This looks to be the start of a down trend, after high velocity break of the uptrend.
The Bears easily out performed the Bulls on this one. The Bulls could not keep traction, and now Bears have control. Those Wicks, mean that the Bears aren't playing around. I'm in at 1.22311 Willing be looking for candle formation at support, to see if momentum, will drive through support or hold.
From a fundamental standpoint, the Bank of Canada is going dovish, considering QE, and the Price of USOIL, has the risk of losing traction, and Canada's economy is somewhat contracting. Meanwhile, US economy is expanding, and the USD has its best bullish rush. I would not sell such a strong bull rush . Technically, we have three (3) giant bull candles, and my...