USDCAD – the pair from the beginning of October this year. moves in the 200p high bullish channel. A week ago, on November 20, the daily candle was 165p high, and since the end of the week, the quotations were within its range so the Inside Bar formation was created.
On the H4 chart, we can see that the price is in the middle of the IB range. It seems likely that the direction in which the IB outbreak will occur will show us the future of this pair in subsequent sessions. The MACD is in bearish divergence, which may tip the scales in favour of the sellers and the price will leave the formation thru the bottom towards the south. A good confirmation of this scenario will be to overcome the support of this growth channel.