Despite the strong rally of USDCAD , it still remains in a downtrend. I feel it needs to go and test the 1.25 level for a clear reversal. Will observe the 1.3 level very keenly for the shark pattern to short this pair.
Trade closed: target reached:
This was an amazing trade as it turned exactly at 1.3 and moved 170 pips. Now there is a bullish pattern to go long at 1.2830 range.