Since the first days of August the USDCAD has been trading in a range in between 1.0659 and 1.1067, but today is out of it. Take a look at the next chart:

In the chart above is clear that the USDCAD is out of that range, this puts the USDCAD in a bearish market condition.

My Trading Plan:

As long as the market keeps trading below 1.0622 I will be looking for short trading opportunities. All my TP orders will be placed above the next long term support level around 1.0319

All long opportunities will be ignored.

Trade Safe!

Raul Lopez