USDCAD Two Possible Buy Setups
USDCAD is trading inside a channel/triangle on the D1 chart and it is currently near the up trend line of the formation.
On the H1 chart there are two possible scenarios to follow.
Scenario 1: Break above the down trend line, retrace and buy.
Scenario 2: False break of the last low, retrace and buy.
Protection should be placed below the last low to be created. For your first target use 1.2920. Second target 1.3020.
On the H1 chart there are two possible scenarios to follow.
Scenario 1: Break above the down trend line, retrace and buy.
Scenario 2: False break of the last low, retrace and buy.
Protection should be placed below the last low to be created. For your first target use 1.2920. Second target 1.3020.
Related publications
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.