The pair tried last week to test the 1.3240 resistance area but it failed as a result of the good news on CAD on Friday afternoon that drove the pair to lows of 1.3140. We can expected the pair to test the weekly trendline around 1.3110 and then the psychological line of 1.31 .
Near that area the pair will form the second leg of a Daily and 4hr W. If there is enough confirmation combined with the US dollar index and the WTI (Oil prices ) which are currently overbought and if they drop that will attract the bull to enter the market !
Near that area the pair will form the second leg of a Daily and 4hr W. If there is enough confirmation combined with the US dollar index and the WTI (Oil prices ) which are currently overbought and if they drop that will attract the bull to enter the market !