USDCAD short-term trade - watch for sell setup

Good morning everyone,

USD/CAD may be posied to a short-term down move. It has recently touched the 38,2% Fib retracement of the last impulse down as it corrects the abrupt down move.
Therefore, a complex correction has started to develop and I would be looking to sell it. First level to watch on the downside is 1.267 though i would not be surprised if it gets to the bottom of ascending channel later on (around 1.25).

Wish you all the best trades,
PTFX

Disclaimer: This post does not provide any kind of financial advice. It is for educational purposes only and solely supported by my understanding of the technical figure based on wave theory.

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