USDCAD Prepare for red October - November.

The USDCAD pair hit both of our Targets on the July 25 (see chart below) sell signal:

The initial rebound stopped on the 1D MA50 (blue trend-line) where the price was rejected with the 1D RSI forming a pattern similar to May 2023. As a result, it is possible to see another short-term rebound but on the medium-term, we expect October and November to be another sell sequence.

The March - July 2023 fractal had two similar Bearish Legs of -4.10% each. So since the current first Leg was -3.64%, we expect the one that will follow now to be of around the same strength.

As a result we can target 1.32000 on low risk, just above the Support 1 level.

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