USDCAD

Hi guys, a few thoughts about USDCAD. This pair reached my entrance area 1.265-1.26 and I opened several long positions. Due to severe volatility I have opened more short positions (than I planned) and closed them at 1.265. As you see on my chart, I anticipate a bullish continuation from this pair and the only way I will change my opinion is going below 1.23. Moreover, I expect very volatile next 2 weeks with a lot of important economical data and Fed symposium. In case of negative news for USD (postponing the tapering) we could dive to 1.23, but trend will still be bullish in mid-long term. With currently bearish USOIL and DXY holding above 92.6 this pair could consolidate around 1.26, if it goes lower - 1.243 and then 1.23 are good places to open long positions.

Good luck!