Hello Traders,
USD/CAD is currently in a bearish channel pattern. There was a strong uptrend then a pullback to the 10 EMA signaling support to continue its bullish trend. A break below the support of 1.3260 would signal a trend reversal to bearish territory which does coincide with the technical analysis of the weekly trend. This week US will be releasing its inflation rate which can help signal the direction of the US dollar. Be patient and set your SL and TP.
USD/CAD is currently in a bearish channel pattern. There was a strong uptrend then a pullback to the 10 EMA signaling support to continue its bullish trend. A break below the support of 1.3260 would signal a trend reversal to bearish territory which does coincide with the technical analysis of the weekly trend. This week US will be releasing its inflation rate which can help signal the direction of the US dollar. Be patient and set your SL and TP.