Squawk / 14 January 2019 at 8:24 GMT
A broadly more negative tone for the US Dollar has been seen in early 2019, given a more dovish tone from FOMC Members, including the Fed Chairman, Jerome Powell.
Furthermore, a global shift to “risk on” has also been seen in early January, with easing trade war concerns.
The above macroeconomic fundamental shifts, alongside a firm rebound in the Oil price (after aggressive weakness in Q4 2018) has seen USDCAD plunge lower, to neutralise an intermediate-term bull trend and threaten an intermediate-term shift to bearish (see below).
USDJPY did seem an aggressive selloff to start the year with a “risk off flash crash”, but the strong subsequent rebound has seen an intermediate-term shift back to a neutral, broader range environment.
See the full article and video analysis here: https://www.forexfraud.com/technical-analysis/usdcad-poised-for-an-intermediate-term-bear-shift-usdjpy-neutral