USD/CAD - Its time to make it or break it...

USD/CAD yesterday tested its minor supportline near 102.54 (it acturly broke it slightly), which might be a sign, that the decline from 106.77 is maturing.

My preferred count is still, that we are seening a series of waves one's and two's. Both wave 2 and wave ii corrected 78.6% of their respective wave 1's. In the currency market wave two's often retrace a great part of wave 1 and is common that 78.6% of the first impulsive wave is retraced. So this is a time for "Make it or break it" decision.

I still think that the triangle count is misplaced here, but the decisive point where my preferred count will die is if we break below 101.37. So the risk/reward is very good at this point.