[B]USD/CAD[/B]
[B]Strategy: Pending Long[/B]
USDCAD has declined after putting in a Bearish Engulfing below resistance in the 1.0718-57 congestion region, the top of the range that contained the pair from early November through the beginning of January. The door is now open for a move to the range bottom (1.0415) after a daily close below support at a falling trend line established from the swing high in mid-August. We will remain on the sidelines for the time being and for signs of a forming bottom at this juncture to establish long.
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