USDCAD Sell the Breakout

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD has finally approached the area at the top of the channel which will likely provide the best area to short the market. We will be looking to sell the breakout out of this smaller consolidation channel.

I have waited for this consolidation to publish an idea, as it would suggest the upturn in price of the last few days seems to be losing all steam as it approaches to upper channel resistance allowing for market bears to re enter.

We can expect price to breakout of this channel pretty soon, however you must always wait for confirmation to trade.

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