As I mentioned in my trade idea posted last week, this pair can be unpredictable. The pair did not re-test the 1.7045/50 level as resistance last week although this level held last week. This can be a sign of the bearishness and I was hoping for the negative CAD news to take the pair up for the re-test and even took a buy with the news, but the pair failed to test that price area as resistance. We can only trade what the charts tells us, and the H4 and Daily stochastics are pointing up and the pair is moving sideways on the Daily chart. So, for now, I will remain on the side-lines until the market gives more direction.



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