With USDCAD breaking a daily trendline developed since May 2015 on the daily timeframe, the pair might be finally heading back down. With prices currently under the 100 MA and below the trendline, i would personally stay away from the pair until it goes back up past 1.36563, or until it breaks 1.34439 to head for lower lows.
Note
USDCAD with some bearish movementNote
USDCAD broke 1.344 on a 4hr time frame. Going to wait to see what it does next. Sentiment: Bearish
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Sorry wrong chart. Here's the right one Note
My bearish suspicion is confirmed. I believe USDCAD is going to head down lower
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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.