USDCAD LONGUSDCAD is looking very interesting in this region. A break back into the falling wedge could provide some bullish movement.
If we close back within the wedge today I would be looking for long positions. USDCAD also correlates with USOIL and if you haven't seen already I am short on. So the fact that oil is looking bearish signifies that this pair could turn bullish.
Ultimately we have had huge sell offs from the highs and pull backs will be due. There are many untested regions such as 1.39 which will be seen again in Q1 of 2021.
A break back into the wedge followed by a bullish break with a retest and close above then I will be looking for very long term holds on this pair. 11 more followers until I reach my goal of 120 followers before the year is out. If the target is reach I will start to provide weekly breakdowns where you can also see the psychology behind my trading strat and why it's so effective.
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