USD/CAD is still in downtrend as the market prepares for downside continuation.
At this point the price is at the verge of the pin bar signal on a daily time frame. The market is in a downtrend and the 1.2440 zone should be the signal for next shorts. Watch for rejection lower towards 1.2320 and 1.2256. 1.2505 needs to hold for bears to exploit this nice bearish momentum.
The Analysis has been done with the Black Widow system.