Bearish Deep Crab and Broken Trendline

USDCAD has broken its H4 rising trendline following completion of a bearish deep crab pattern and could reach 38.2% retracement of 1Oct low to 14Nov High around 1.3080.
Moreover, WTI has found support at 54.87, near 200-week EMA and 61.8% retracement of Jun2017 low to Oct2018 high.

On a longer-term view, I think the pair can even go to 1.2700 in a few months given the hawkish BoC and USMCA potentially positive outcome.

Transaction en cours

Trade fermée: ordre d’arrêt atteint:

The pair reached 1.33 on USD strength and lower low on USOIL yesterday.
I still hold bearish prediction though for the pair targeting 1.3000.

Transaction en cours:

reenter short below 1.3250

Trade fermée manuellement:

closed short at 1.3189. USOIL might go lower.
Look for another short around 1.3250 or if there is a clear break of uptrend channel.

Transaction en cours:

The plan remains the same. USDCAD must first break the uptrend channel and 23.6% fibo around 1.3220.