Looking in the long term of USDCAD, there is a repeated pattern, 15 weeks USD weakening, the several monthes of getting stronger. I would go Long with USDCAD, if considering long term. Of course shorter terms will show ups and downs, So if you are a daily trader or a short term trader, this curves may not bet the best for you. but I am 95% sure that for the coming 6-8 months,
it looks more short than long .. big green candle is not a reason for long
saif12
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Thanks for the comment, of course one long green is not a reason for long, but there is no place for the RSI to go but to go up again above 90. In addition, knowing the inverse relation between USDCAD and XAUUSD, the idea of Gold going down in the coming 8-10 weeks support that the USD will getting stronger. It is as simple as Gold goes down, US dollar goes up, CAD dollar goes down. The curves of XAUUSD and USDCAD are perfectly synchronized. See what happened to the gold at the same dates where The RSI at its lowest value.