The US dollar
is turning bullish
again. With respect to USDCAD
, it is trading at the fib 50% and on the bottom of the ichimoku cloud
. If price was to rebound on that level, a reverse head and shoulder would be formed. I'm also bearish
so the Canadian dollar
being correlated, USDCAD
should go up. Also keep in mind that the recent Canadian economic datas were worse than expected.