USD.CAD just before Important Econ News, parked at Resistance

Yesterday, UC was parked at support just before news release (click).
Yesterday's reports were bad for CAD so above long entry exploded!
Now we look to have completed a well defined 5-wave move upward.

Today we have even more important news coming 15 mins from now.
Good CAD news should tank this cross, Bad news cant hurt much more?
Rare Instances where I trade news: tight SL, one direction more likely.

Previous USD.CAD analysis (click):
1.331 Long TP (longs to perfect target)
1.319 News Scalp (fib support launch)
1.319 Short TP (shorts to perfect target)
1.338 Top Call (exact top mapped)

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Kommentera:

Canada CPI reading was exactly as expected.
So no real force at this time, but since was at resistance it has started drifting lower

Oil inventory reports in a couple hours, might have a greater impact....

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Kommentera:

Down move under way, but at a resting point.

Added two new fibs, Red of the drop from resistance, Purple at minute of news release.
Confluence suggests 1.3288 for target, BUT oil inventory news still coming....

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Kommentera:

Bounce could reach as high as 1.3296/97 and still be very bearish

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