Possible small short down then flip it around

4 thg 6, 2017

Looking at the daily close on USDCAD -0.23% I think this will work it's way down to the 1.3300 zone, which at that point, it's either going back up to the monthly resistance of 1.3600 or could continue down further. We need to wait for further confluence at the appropriate areas (1.3300 & 1.3600). If this breaks the blue trend line then I think it will continue down, if it bounces off that trend line then I see it bullish to 1.3600

No trade as of yet, just an idea. I will be looking to see how it reacts around the blue trend line before entering any trades on this pair.