Earlier today, during the Asian and European sessions, the USDCAD broke a major resistance level around 1.1457, as long as the market continues to trade above this level, it should reach the next major resistance level around 1.1817. Right know we are trading at 1.1533 (close to 300 pips below the next resistance level):
My trading Plan:
As long as the USDCAD continues to trade above the main resistance level (1.1457), I will be looking for long opportunities targeting the next major resistance level around 1.1817.
All short trades are out of play.