USDCAD - Look for a clean break

PAIR IN FOCUS: USDCAD
ACTION: SHORT
HORIZON: SHORT-MEDIUM TERM

A bearish engulfing candle in the H4 time frame offers a SHORT opportunity. We want to see a clean break of the trend line before any entries. TP 2 is the medium-term target as USDCAD is a fairly ranging pair and will take some time to reach the targets. Should the bearish view of DXY follow through, this pair will start to fall as well.

The TP levels and Stop Loss are indicated on the chart. Remember to manage your risk!

Feel free to discuss and comment, Cheers!

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