USD/CAD:
Our expectations: Mid-term short movement and a signal for possible correction.
Alternative scenario: If the price goes below the shadow of the engulfing bar we might see a new short impulse.
Comment: The price reached the levels of horizontal and diagonal support and we might see a short-term correction.
Dem and CCI50 turning from an overselled market area, which indicates a possible increase in the price.
Price action: Bullish engulfing candle
The 50SMA still remains above 200SMA, which does not signal a change in bullish sentiments.
SL: 1.3434
Trader I. Ivanov
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