The DXY has an uptrend in place in a parallel channel while the Canadian Dollar Futures - 6C1! is on a downtrend and has broken a daily support level and bullish trend line.
Also, the retail sentiments favors the bullish move of USDCAD.
Following the release of the PMI numbers USD declined, technically there is a bullish chanel formed with the Retail Sentiment supporting a bullish dollar.
OANDA:AUDUSD
ANALYSIS: Taking a short on AUDUSD for a few resons;
Selling after the highlighted resistance forming a double top on the daily chart off the weekly trend-line
Weekly chart/daily chart downtrend
COT data shows strong institutional selling the last few weeks
OANDA:EURJPY
BUY EURJPY (New trade)
ANALYSIS: Taking a long on the EURJPY after the market's initial dip, price broke an inverse trend-line. EURJPY is pretty cut and dry when it comes to the direction with majority of retail-traders shorting this pair while the EUR remains bullish on the COT side, and the YEN remains dovish.
The daily shows a bullish trend which price retraced from a psychological level of 145.000 to 137.300.
On the 4H: Price broke a lower high of the pullback forming a Choch, and retraced to the 4H - OB, and pushed higher, confirming the reversal of the trend(pullback).
Entry: Buy-limits are place after the push up at BOS which was previous Choch.
