Been watching this pair for a while now, looks as if it's in a descending channel
on the daily and 4hr but there is confluence of potential upside as there were many wicks thrown down on the 61.8 upward fib but after a potential breakout to the upside it seem's chf was to weak to push cad up. There is a typical reversal patten on the 4hr bullish
, then bearish
( Forgot what it's called again. I will we waiting for a close below the Ema
to go short until the bottom of the channel. Both currencies seem to be showing signs of strength/ weakness so will be watching this pair closely.