**Monthly Chart**
After the relative double bottom of the year 2011, USDCAD's long-term trend is bullish. The long-term directional bias is moving into a large range between 1.46500 and 1.20220 levels from Jan 2016.
Last month's candle closed as a Manipulation candle after testing the high of previous month. This is a clear indication that the directional bias is lower. Any short-covering rallies is a selling opportunity.
**Weekly Chart**
Last week’s candle closed lower. The next target is around 1.33730 and then will see a further run towards 1.3000 (round number) in the coming weeks if the price breaks below 1.3400 level.
**Daily Chart**
The directional Bias continues to be bearish on a daily time frame after it breaks the previous support level. I would like to see some bull back before shorting this pair.
After the relative double bottom of the year 2011, USDCAD's long-term trend is bullish. The long-term directional bias is moving into a large range between 1.46500 and 1.20220 levels from Jan 2016.
Last month's candle closed as a Manipulation candle after testing the high of previous month. This is a clear indication that the directional bias is lower. Any short-covering rallies is a selling opportunity.
**Weekly Chart**
Last week’s candle closed lower. The next target is around 1.33730 and then will see a further run towards 1.3000 (round number) in the coming weeks if the price breaks below 1.3400 level.
**Daily Chart**
The directional Bias continues to be bearish on a daily time frame after it breaks the previous support level. I would like to see some bull back before shorting this pair.
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Join our PropSignals Channels on Telegram
t.me/PropsignalAE
t.me/PropsignalAE
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.