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USD/CAD - London with the trend, but only after a test of first major support

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Forex USD/CAD D1 Our expectations:

Long trend and a short-term correction. Higher tops and bottoms. Movement in the trend channel. Currently the price is making correction, which allows building long positions, but only after a test at the levels of about 23.6 Fibonacci.

Price action: At the moment, it is still early to enter the position because the downward impulse is very aggressive and there is no signal for slowing down / reverse the movement.

Indicators:
The price is approaching 23.6% Fibonacci - the area where we will be looking for enter in long positions.
Price above 200 and 50SMA. MAs in a bull formation.
DeMarker on neutral territory./

Alternative scenario: A verified break below 1.328 would have deepened the correction and sent the prise for a test of the the lower boarders of the channel.


 Trader Georgi Bozhidarov

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