US dollar after strengthening in EURUSD strengthened and USDCAD pair. The pair USDCAD trading at 1.2701, i.e. observed.

From the point of view of the candle analysis, USDCAD pair on a monthly timeframe (MN) may be formed "Bullish engulfing":

If formed, this reversal candlestick patterns, then I think that will start a stable long-term strengthening of the US dollar against the Canadian dollar.

In this case, I believe that the USDCAD rises on the weekly chart (W1) to start to the mark 1.2910, and then 1.3120 to the mark:

1.2910 and 1.3120 levels correspond to levels of 50.0 and 61.8 Fibonacci, which are obtained by taking wave, which drew on the chart in May and September 2017.

Vesselin Petkov Alpari