USDCAD on monthly timeframe shows and emerging BEARISH BAT pattern which is expected to complete @ 1.53000 - 1.54000 region on a long term. Taking a closer look at the monthly chart, elliot wave forecast shows that price is current at the 5th leg of the motive wave. The 5th leg is also forming an emerging BEARISH SHARK pattern which should end at the region of the complete BEARISH BAT pattern. Moving down to daily timeframe, elliot wave forecast also shows that price is trading at the 2nd leg of the 3rd wave of the 5th motive leg. The 2nd leg of the 3rd wave is forming a FLAT correction of 3,3,5 formation which should end at 1.24600 - 1.24000 region, this region is also the region forecasted for the emerging BULLISH SHARK pattern and price is also expected to bounce off the TENTATIVE TRENDLINE to make it valid. I remain bearish on the short term for the long term bullish move.