Comments/Strategy: The ascending wedge pattern continues to form. BUY usdcad at 1.38900 with a 40 pip stop looking for 1.40200 initially then a squeeze to a possible 61.8% of the correction at 1.42800. On the daily chart price must stay below the pivot of 1.43250 in order for the downtrend to continue in an A-B-C formation. Intraday support comes in at around 1.38700/1.38500. Resistance starts at 1.40200. If price gets below 1.37800 consider shorts for a target of 1.35300 (61.8% retracement of the bull up move) but the setup is still to BUY against the 1.36300 lows for one more new high above 1.40000 on the daily chart.
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