Greetings and welcome back!
Let’s take a look at the USD/CAD. We posted an analysis a couple weeks ago about the overall sentiment for this currency pair being bearish. Our analysis remains the same - but look for a retracement back up.
Look for a potential retracement up to the 1.0450 area, which correlates nicely with our trend line (highlighted area on chart).
After this retracement is complete, look for a nice wave to the downside.
If you’re long this pair, be sure to protect your profits.
Good luck and happy trading.
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An overview of the
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