Clear bearish sentiment for dollar canada?

hey traders,

again, watching daily timeframe on a dollar canada we see totally unclear situation for our long term orders.
though since September the pair was in a clear bullish trend, switching on a daily timeframe we see
that the overall picture is still bearish.
We will consider the pair to be in a bearish trend until the market violates 1.38 level.


as the market tried to approach this 1.38 level at the end of December we saw a massive selling reaction.
I project this selling wave to the support line of a bearish flag shown on my chart.
And again, very ambivalent situation. From the current perspective, we can't exactly say where the market is going.
Bearish violation of a bullish flag will signify bearish wave and test of market low 1.20.

If the support line of a flag will be respected, we will anticipate the retest of the local market high.

Good luck!

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