USDCAD is in a roaring downtrend with the US dollar weakening considerably.

Over the last few days we've seen a bullish reversal in place. I created an analysis on a bullish divergence on USDCHF the other day here Bullish divergence reversal trade against the trend (finlogix.com)

I'm looking to sell the strength in USDCAD if it manages to rally much higher than the current price. I've noted the downtrend in place, connecting a few of the highs. But you can see a few other smaller trendlines within the big one on the chart.

Be patient on this trade and look for a reversal to short if the rally continues higher.

USDCAD short trade - Sell the strength

Dec 21 2020

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