Potential for USD/CAD downside...
1.2300 seems to have a lot of confluences pointed towards. Its a heavy 300+ pip movement towards the downside but it could indicated the movements to come on the rest of this week and into next.
It would be a good idea to await a little more pressure to the downside with a downtrend to fully form on the lower timeframes such as the 1 hour.
Upside scenarios seem limited at this stage, but make sure to keep up with the dxy when trading on this pair.
It would be a good idea to await a little more pressure to the downside with a downtrend to fully form on the lower timeframes such as the 1 hour.
Upside scenarios seem limited at this stage, but make sure to keep up with the dxy when trading on this pair.
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