The USDCAD bounced off the 8ema today and began it’s descent to our 1.26 area as was mentioned last week. Also if you take a look at the H4 chart you can see that price bounced off of the Weekly pivot point which in turn means we could expect price to drop close to S2 by the end of week, just as we planned. In Canadian news today the prime minister will be giving the country a stimulus of 11 billion $ this year and 14 billion$ next year. Poloz said that a .5% increase in interest rates were planned for this year and another .5% for next year due to this stimulus and the gain in oil prices.In the long term if everything keeps going this way it seems like the USDCAD pair hasn’t finished its decent, without a few hiccups of course. But in the mean time lets stay focused on our 1.26 level and see where we go from there.