USDCAD

USDCAD 1Hr

USDCAD is showing signs of accumulation, there is signs of what might be aggressive buying,  from the high volume downthrust as prices went below 1.0827 (false break). This buying can be confirmed if prices close above 1.0893, however if prices close below 1.0827 expect lower prices.

USDCAD 4Hr

The blue line represents 50% retracement of prices from the July low to the August high and from the RSI you can see that there is a decrease in selling pressure, another reason to expect higher prices.

USDCAD Daily

You can also observed what looks like a bullish Head and Shoulder reversal pattern in formation, where the right shoulder comes in line with the left shoulder at 1.0809 (blue line), if this pattern holds the bullish trend is expected to continue.