#USDCAD

#USDACD Daily
1- Descending Channel
2- Closed below previous key resistance 1.29
This confirm the downtrend.
My forecast is we are going to retest the previous support (Bullish engulfing) which is now a strong resistance 1.29 and if we break it then we will retest the 1.2950 - 1.30.
Notice that 100EMA & 200EMA are getting closer and might cross which could confirm the break of the channel.
If we break the downtrend channel then lets get the party started.
Always protect your capital!
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