We have a central bank meeting happening in Canada on Wednesday and GDP being released on Thursday. Oil is currently at the top of the range so a move lower is expected which could cause some more CAD weakness, at least be aware of that if you are selling at the top of the range. Price is currently at the top of the range for USDCAD which is marked by WR1 with an overbought H4 and H1 stoch. Bulls are trying to drive price up to 1.3250 and bears will look to drive price back to the bottom of the range at 1.3050/ 1.30

USDCAD Daily

Market is flat, price is range bound

USDCAD H4

Bulls entered at WM2 with a target of WM4. Top of the range at WR1 with a very overbought H4 and H1 stoch. WS1 marks the bottom of the range.

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"When there is a gap you either commit yourself as a professional racing driver that is designed to win races or you come second, you come third or you come fifth. And I am not designed to come third, forth or fifth. I race to win. And if you no longer go for a gap that exists, you are no longer a racing driver." Aryton Senna

Ryan Gandalf van Jaarsveld
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