USD/CAD - Breakout Coming

On the monthly timeframe we've had a nice bull run since 2019 from its monthly support level 1.3070 right up to 1.3565 then in June we've seen a massive 431 pip drop back down to 1.3070, now this could possibly break that price and push lower. Also showing on the weekly timeframe we now having the EMA's crossing which is indicating a sell position, we have the weekly trendline broken which is a second confluence, we need to wait for a daily closure for the third confluence. On the daily we have a retest of the broken trendline be ready for the drop!!!

Enjoy the weekend...