USDCAD Short idea

USDCAD is bearish since September, last week it closed with a nice retracement almost touching the 0.618 Fib level (1.27535) which is also in conjunction with the major down trendline, we can now expect price to move down again giving us a nice Short position, anyway I suggest to keep a close eye to the strong resistence level we have around 0.786 Fib level (1.27872), price might move a bit higher before eventually going down again.

Hope you liked this idea! Good trade week everybody!