USDCAD SHORT - Make or break for CAD

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
The CAD is approaching its make or break day, an 80% chance of a rate hike has been priced in by the market, if that does not happen this trade is likely to get stopped out.

If it does happen expect them to extend lower possibly in an impulsive and sharp manner. As always the blue box is the area a turn lower for resumption of the major trend may occur and I will enter the market short when price gets in the box with a stop loss large enough to cover the box with a few extra pips for security.

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