The downtrend is in play here and the risk to be wrong is very low, while the potential for gains is quite high.
The long term is broken and the $USDCAD is sitting on a level where a tremendous amount of and time has been spent at $1.31. Risk is a move over the 1.335 level to invalidate this setup.
The opportunity is for a drop down to $1.17 where the "least amount of volume" has traded.
More details to follow.
Tim 8:28 AM EST Jan 31, 2017 1.30828 last
Here's the Equity way to own Canadian Dollar - $FXC