USD/CAD Analysis on Weekly Screen:
On the first time frame MACD histogram is going down below zero line.
Here we get weak sell signals.
The pair reverse movement is also possible.
USD/CAD Analysis on Daily Screen:
On daily time frame strength index is placed at zero line which exclude the opportunity to enter the market.
Considering the downtrend on the weekly chart, we need to wait for the index rise above zero line to sell the pair.
USD/CAD on 203 Chart:
On 203 chart the pair resumed its downtrend after hitting resistance level of 0.988.
The target for bears is support level of 0/978 overcoming of which will give a sell signal and enable the level of 0.964.
The tendency is still descending.
.
USD/CAD on 103 Chart:
On 103 chart the pair changed its tendency to the downtrend and is now trading in downward channel.
The ultimate strength of the bears is estimated at 0.973 (the wave low and the lower limit of the channel).
We recommend selling the pair after support level of 0.978 is breached.
Summary:
We can conclude that both of the analyses indicate just bearish movements.
However, Triple Screen system does not give us points of entry.
Point and Figure charts determined the sell point at 0.978.
