Sharp rise in USDCAD this morning. Is this a false Breakout?

The declining triangle at USDCAD is broken, however considering the USD Index and UKOIL, we expect that this to be a false breakout and the prices to retrace back into the declining triangle, once the UDS Index start going down and UKOIL start moving back up in its own forming triangular channel. So we don't recommend yet any long position for the Canadian Dollar.