USD/CAD: Short short short
Following friday’s session and due to the oil’s recovery, USD/CAD confirmed further weakness.
Friday’s daily KS has been heavily broken by a red candlestick. Thursday’s prices had already broken their TS showing that bears could take control of the pair. LS has no immediate support indicating further downside pressure.
Checking Fibs, we see that prices could fall to the 38.20% retracement, around 1.39703.
Prices broke their KUMO and are technically in a bearish trend.
We are already bearish on the pair. The confirmation will be given as soon as LS crosses down its KUMO.