USDCAD Setup for upcoming weeks. Continuation Upwards
Updated
A clean break of a descending channel off a third touch and bounce off a strong support level on the daily time frame. With this impulse we had, we can expect a continuation pattern to form that could potentially align with a 50% - 61.8% retracement to provide a retest of the overall descending channel we broke out of. Price action will provide us with a signal to enter our trade when it presents itself. I am expecting price to eventually reach 1.33 as we can see on the weekly time frame we have broke out of a big overall downtrend. This is just an IDEA.
Note
Sorry I had accidentally upload this idea twice. Didn't know it took 15 minutes to fully upload and appear.
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