USDCAD

Looks interesting for a long position this. Chart 1 shows the 25day MyWave still down but the momentum cluster is looking to push up now. Price is close enough to take out the wave to the upside if timing was right. Chart 2 shows the 100 day MyWave still down but it took all the momentum cycle to do that and matters look corrective left to right. The 50day fld is directly above and a breach of that leaves the 100day fld 'peak' to reach into; this would turn the 100day MyWave back up again. Alternatively, the momentum cluster here may just bounce along the bottom while price reaches down to the 200day fld at the bottom of the chart, but i would not want to be going short until we see what happens to price after the 25day moms unwind upstairs first. So should one wait for clarity or take the long on a break up on the short term chart? Well, have a look at chart 3 which is the 400 day cycle and the 3day mom cluster. The 400 day is up, not down, and with the mom cluster looking like that, one has to assume the journey downhill is corrective. The big 1.0000 round number is close by of course, but with that 400 day fld just to the right, well a break of that could be stunning. In summary, looking to go long down here somewhere and some sort of ending pattern would be great - ED??/please!!