USD/CAD possibly more declines to come.

1 May 2016

Keeping a close eye on USD/CAD. This pair is still looking quite negative with 5 consecutive weeks of declines. Price is sitting on the 100 EMA. If the price breaks the 100 EMA and closes under in the following week we may see fresh declines all the way down to the 1.21 price range.
Also Oil is still looking strong with higher high's further boosting the Canadian dollar.

2 May 2016

Not

I apologize for any miss interpretation. The green circle's purpose is to highlight/circle the 200 WMA and that use/cad is possibly headed for the 200 WMA and might bouncing off of it This circle is not a range of the price use/cad will fall into.