USD/CAD: Analysis shows more decline.

Short

U.S. Dollar / Canadian Dollar (FOREXCOM:USDCAD)

Updated

FOREXCOM:USDCAD U.S. Dollar / Canadian Dollar

pivotpoints trendline triangle usdcad usdcadshort priceaction trianglebreak

Price retests the broken triangle. The probable decline into a strong distribution area, where the Pivot Point support S1 is located, often acts as a magnet. The price will certainly be affected by tomorrow's fundamental news from Canada, but everything indicates a decline.

Trade closed: target reached

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