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MMQ_FX

USDCAD - Multiple Short Confirmations

Short
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
MMQ_FX  
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis USDCAD loonie DJ FXCM Index canadiandollar
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trendanalysis usdcad loonie usdollar canadiandollar
USDCAD has been up trending for a number of weeks, bullish momentum being boosted by a weak CAD on Januarys BOC interest rate data.

The daily timeframe is still downtrending however, and we have several indications of a bearish reversal (see annotations)

Long term target is the previous daily low at around 1.296.
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