The USD is holding kinda weak for last few weeks. The neat retracement could take place on this pair and stochastics is totally supporting it as it is in overbought area suggesting that bulls are going out of steam. I would not suggest you to go long on this order but rather place a pending order around key area as it is likely that this pair would jump off the key level and continue to trend.
USD/CAD DAILY CHART
The nice and sweet spinning top shows that the bears are getting exhausted and now its the bull time. The clear bullish divergence is just leveraging the way for the bulls. Since the whole trend is getting down I suggest you to be cautious and mark your order above the current price.
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