FX.co ★ USD/CAD Intraday Technical Analysis & Trade Recommendation December 28, 2011

USD/CAD witnessed a strong decline in price today after consolidating sideways for many days.

Now we have breakout of the three marked channels indicating a bearish opportunity on the retest at 1.0177.

Based on the previous analysis, There's a Short opportunity on retest of 1.0177 with SL placed above 1.0210.

TP should be placed at 1.0150, 1.0115, 1.0080.