Although USDCAD has posted two ‘Inside Days’ (which highlights indecision) there is no clear indication that the selloff is coming to an end.
Bearish expanding wedge on the weekly chart with a DeMark 13
Broken the wedge formation on the daily chart
Intraday chart is holding inside a corrective channel
Weekly – Bearish Outside Candle with bearish expanding wedge pattern
Daily – Breaks the wedge to the downside. Measured move 1.3115. Outside Day posted yesterday
We look to sell at 1.3400 Stop 1.3440 Target 1.3115
Economic figures could adversely affect the short term technical picture.