USDCAD had a near-perfect double top just before the bears stepped in and brought it down.
The bears are running out of steam so for the first 2-3 days this week there will be a bullish momentum pushing the price to 1.346. Bears will be filling their tanks (trading accounts) in the meantime for a visit to the 1.327 region which previously served as a resistance in July 2018.
Longs - Wait till the bullish momentum has been confirmed (once it starts trading above 1.338)
Shorts - A profitable re-entry will be at 1.346 with SL at 1.348 and TP at - wherever the bottom is... (1.331 for now)
The bears are running out of steam so for the first 2-3 days this week there will be a bullish momentum pushing the price to 1.346. Bears will be filling their tanks (trading accounts) in the meantime for a visit to the 1.327 region which previously served as a resistance in July 2018.
Longs - Wait till the bullish momentum has been confirmed (once it starts trading above 1.338)
Shorts - A profitable re-entry will be at 1.346 with SL at 1.348 and TP at - wherever the bottom is... (1.331 for now)