USDCAD 3/20/18
The daily time frame of USDCAD is in a nice uptrend as you can see by the higher lows and higher highs. In addition price also broke the 100 and 200 sma signaling that price is now bullish. The sma's also crossed which could lead to a potential long uptrend for the start of the year. The 1h has started losing momentum and is consolidating. I will wait for a breakdown from consolidation and look for price to enter into the red daily support zone. Then i will look for several different possible entries the first being a test of the 200 sma with a clear bullish candlestick pattern, a test of the trend line with a bullish candlestick pattern, or price tests the 38.2 or 50 fib level with a bullish candlestick pattern. If i enter Sl will be placed below the daily trendline
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