MY last USDCAD trade post did not execute due to no breakout of the wedge. Today, we are seeing another opportunity on USDCAD Long. The price action has recently found support at key support area of 1.2500. Similar like my other post on GBPCAD, we are seeing some bearish momentum in the CAD and a pullback on the daily time frames are happening this week,
On the 4 hr chart of USDCAD, a recent double bottoms and a breakout are all signaling a bullish momentum coming in. Entering at the higher low confirmation is a good idea for a daily pullback to 38.20% fib level.
Thanks