USDCAD Higher Time Frame Bullish Outlook

Hello everyone:

USDCAD's higher time frame is looking very clean for further upside opportunity in the weeks/months to come.

After the initial bullish impulse phase from 2016, price falls into this current large parallel channel structure on the higher time frames, with a few swings highs and lows.

We can clearly see a few corrections and impulses within this larger structure, which makes it a good sign for possible continuation from the previous impulse phase.

We can also see price has created a double bottoms and there is reversal price action form the bottom of the HTF structure, a nice reversal impulse up move from the price.

On the lower time frame, after the reversal impulse up, We can see a continuation correction to give us a good confirmation for further up move.

IF the LTF correction breaks up further, and expect further upside if bullish price action continues.

Thank you