USDCAD has come to a resistance and looks like it is being rejected. There are also lower highs forming causing a symmetric triangle but the upper trend line has been with a gravestone candle with my bias that it is going to break, retest and go down to the next small bit of traffic at 50% fib level.
Overall I think there is downtrend forming but not sure to what extent.
The Flash Manufacturing PMI is forecasted below 50 on Tuesday meaning this could help with bears taking position.
Overall I think there is downtrend forming but not sure to what extent.
The Flash Manufacturing PMI is forecasted below 50 on Tuesday meaning this could help with bears taking position.