Here’s why stepping aside on USDCAD for now is advisable from a technical perspective.
The pair has been on the downside for some time. However, on the weekly time frame, buyers strongly intervened to push price higher four weeks ago. Nevertheless, lack of follow-through three weeks ago opened an opportunity for bearish price action a week later, resulting in a rejection pinbar around a significant S/R zone breaching the monthly central pivot southward.
On the H4 time frame, price action is respecting a resistance trendline (magenta colour) from the high of June 9, 2017. Although all technicals point to a bearish continuation, the last session on Friday saw the buyers influential. As price action is in an area of strong support, we may see some sideways operation for the early part of this week; any movement either upward or downward may be limited. It may be advisable to step aside for clarity in price action.
I may be wrong. Trade safe and prosper.