USDCAD Potential Short Signal

Apr 26, 2016

USDCAD has been in a serious downtrend consistently making lower lows and lower highs and breaking short-term up trends with great bearish momentum. Knowing this we are looking at any short-term up trend as a corrective pullback that when broken will spark a continued move to the downside. This type of market will provide us with very high probable set ups if we are patient. We are awaiting a break below and close below this blue short-term up trend line with confluence from our price action algorithm predicting a move to the downside with a chance performance prediction rate of 85% or higher to take a short position on this pair.

Currently our algorithm is predicting a reversal at the trend line for a continued move to the upside with a chance performance prediction rate of 70% as shown in the image below:
[img]i.imgur.com/Tb6Ch6B.png[/img]