USDCAD: Rejected by downward trend line | February 12, 2017

Usdcad is trading below downward trend line and rejected from 100 ema on h4 time frame. Big bearish candle has been formed from 100 ema. So it can indicates bearish momentum on this pair. As this pair is still below the trend line of long downward trend line, so it is better to stay on sell mode on usdcad.
MACD indicator is below 0.0 level. So we need to stay on sell mode until this indicator below 0.0 level. 1.3110 level is near term sell zone for this pair. If we find this pair near to trend line, then we can sell again with putting stop loss above the trend line and target will be 30-80 pips on usdcad