TRDVMA

USDCAD Not Ripe for Long Entry. Stay on the sideline.

FX:USDCAD   Dolar U.S/Dolar Kanada
The initial 5 wave move is almost nearing the end while BB indicator (on chart) is overbought. Also there is a strong resistance (red line) to surpass. All these considered, I would suggest to keep away from buying long into USDCAD             for a while. Today's rally is just a reaction to S&P             equity dump and most likely will be short lived. There will be good opportunity to jump in long shortly.
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