USD/CAD — UPDATE: Trend pattern is reversing – great opportunity for traders!

As quoted in an earlier post, by David Frank, the USD/CAD was showing a clear bullish pattern and increasing steam forward.   Now, looking at the hourly chart below, we see a peak emerging:

The peak is appearing at 1.139.  We would recommend to consider a neutral to peak stance at this time.  The support is 1.133 and the resistance is at 1.14.

Although the bulls are still acting strong, we see in the minute chart neutral trend as below:

Here the minute charts shows clearly the peak levelling emerging.  Look for the trend change down which could occur at any time.  Traditionally at this time of the year the

USD/CAD dollar floats around this level and then could go lower.   Traders have a great opportunity for fast returns — especially in a margin position.