The USD/CAD 30M chart looks to have broken the sideways corrective movement to the upside. This on the back of the 100 SMA and a bullish RSI reading. We're interested buyers, with an impulsive-corrective-impulsive sequence as our trading concept, our target area for this next bullish impulse is around the weekly R2 pivot zone. Our risk-to-reward on the position will be slightly over 2.5 to 1.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.