Earlier this week, I suggested that USDCAD might be reaching the end of an impulse. Wave 5 looks like it has been completed and USDCAD is now in the entry zone for a short. We will be able to ride the impulse down to at least 1.27325. There is a resistance that will be tested before USDCAD retraces and Wave 2 overlaps with the previous Wave 4.
SL: 1.28575
TP: 1.27325
Good luck!