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USDCAD: Target towards 1.3200 Until Below 1.3750

Short
U.S. Dollar / Canadian Dollar (OANDA:USDCAD)  
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OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Technical Indicators Chart Patterns usdcadshort usdcadforecast usdcadanalysis usdcadsell usdcaddaily usdcadsetup usdcadsignal
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trendanalysis indicator chartpattern usdcadshort usdcadforecast usdcadanalysis usdcadsell usdcaddaily usdcadsetup usdcadsignal
USDCAD is moving downwards perfectly in the bearish channel

Following hints are good enough to support the bearish trade idea:
1. MACD is forming a hidden bearish divergence to continue lower.
2. The most recent rising trendline within the bearish channel is broken lower with a successful retest as the resistance.
3. 4 out of the 5 legs impulsive structure are completed and the target for the last leg is derived from the confluence of the prior leg's Fibo Extn.s at 1.3200

Invalidation of the bearish trade idea would be the break above 1.3750

GOOD LUCK FOR YOUR TRADES !!! PLEASE SHOW YOUR SUPPORT IF YOU LIKED THE IDEA
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