USDCAD - potential new lows (RECENT)

checking the 1week USDCAD chart study we can see a recent peak in price
this pair is currently in a long bear channel even though the recent channel is bull

I'd be very weary towards more Bull with recent USD weakness
2 weeks ago I was aiming for a 1.40 price point before the next dip but fundamentals put a strong Bear move on the more recent USDCAD Bull

keep a sharp eye on any Oil news reports this week, it should define trade direction for USDCAD the next couple weeks
of course that is Trump, N.K. missles, Brexit, Fed etc dependent

also see the attached USDCAD Cypher study for my other take on this

Trade active

Note

also keeping an eye on WTCrude
possible dbl top on 12hr and this 4hr dbl top on RSI with a .786 kissed facing down

Note

well the chat board is pretty shitty today
but I made money so screw the amateurs and their criticisms

UCAD just passed the last candle that matters
either it bounces off 1.338-1.34 range or we are facing some new recent lows

gnite

Trade closed: target reached

j_nathan

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USDCAD Bearish Butterfly

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j_nathan

Also on:

Related publications

USDCAD Bearish Butterfly

by j_nathan