Attacking the Currency Non-Trend
The USDCAD is a currency pair that is non-trending. Over the last 9 or so trading days, the price has:
Note the 100 and 200 hour MA are near the middle of the trading range. They have done a fairly good job at defining bullish or bearish risk/bias, but the price can continue to go above and below – chop around. We are looking to break below currently (at 1.2880) and that would switch the bias more to the downside.