SirajHudda
Short

USDCAD Daily Resistance, Double TOP, Time to Go Short?

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD is at a daily resistance level and made a double top formation on 4hr chart. MACD and RSI are showing negative divergence and the rally has been stretched a lot without much of a correction. Based on these pictures I would recommend a short at current levels with a stop above 1.2700 and Targets around 1.2050 a more than 1:10 Risk:Reward ratio.

Happy Trading!!
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