I think the time had come for the Canadian Dollar.
The USDCAD pair had entered into a bear market at the beginning of 2016. The decline was so powerful that we sliced through the 200 SMA in March without looking back. Today we are tagging the 200 SMA again. As I'm quite sure that the dollar will start a serious decline in the following days it will give the possibility to USDCAD to break down the bear flag.
Notice the divergence in RSI.
The USDCAD pair had entered into a bear market at the beginning of 2016. The decline was so powerful that we sliced through the 200 SMA in March without looking back. Today we are tagging the 200 SMA again. As I'm quite sure that the dollar will start a serious decline in the following days it will give the possibility to USDCAD to break down the bear flag.
Notice the divergence in RSI.
More than 100 pips profit.