1)During 2017, USDCAD experienced 4-Massive Candles: January, May, June, July, and December.
2)When you zoom those months' performance, you find that all shorts from 'High to Low' could have banked a max accumulation of (600) pips.
3)January 2018, trades from 1.2590 to 1.2282 which translates only to (290) pips meaning; if TVC:DXY keeps bleeding at least until it lands near 86.85, then USDCAD has all the ingredients to drift lower and hit 1.20s, there I could see a 'TRAP' touching 1.1915-1.1880 region and reversing.
4)Never forget NAFTA 'Gallo Tapao' (Latino quote to describe a strong player that everybody knew was there from day 1)
Stand: Short to squeeze extra +-300 pips, then building longs towards 61.8% Fibonacci level 1.2550 or from low calculate +480 pips max, that's it.