FX:USDCAD   U.S. Dollar / Canadian Dollar
So on the daily we can clearly see a divergence with DXY. The marked up ranging move, creating higher lows is a bullish sign on it's own. Gold is bullish (not a suprise really, according to the global situations we are having) and along with that we have a ranging DXY. With the fact that UCAD is still trending upwards, shows that it has a lot of energy to break to the upside. If DXY breaks out upwards, UCAD could smash higher with momentum. That's the expectation for the future. If DXY tends to go lower (which I doubt) UCAD still can crawl higher for the weekly DOL. If we come down for the marked up lows, than my narrative needs more data to validate either direction.

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.