USDCAD READY FOR A DROP?

i never really took the time into the elliot wave theory until now after all my years trading but now looking into it i see why it plays a key factor in our trading (correct me if im wrong) whats the forcast on usdcad? as we can see we're in a bearish channel on the 4h chart and price had reached a 4hour level of broken support turned resistance also on the hourly we see a double top and price rejection along with signs of bearish pressure