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USDCAD – Resistance Holds, False Break Setup Now 300+ Pips in Profit (Daily chart)
As we talked about in our members commentary on Jun 4th, the USDCAD had broken back underneath a key resistance zone and stabilized within a ST corrective structure.
Price came back and tested 1.3520 one last time for the false break setup we talked about, where just after it completely flushed the ST bulls, leading to a 300+ pip sell off within 4 days.
The move was so strong that it smashed through both minor s/r levels @ 1.34 and 1.33 with ease. Short …... Keep reading