USD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.26943, 1.27263, 1.27717
Key Support Levels: 1.26430, 1.26245, 1.26061
We have been trading downwards since December 20th, but it looks like we may be visiting a strong support zone, which may result in sideways movement and possibly some move to the upside as the down trend comes to an end.
USD/CAD Medium-Term Trend:Bullish
We are currently trading off of the support line in a wedge. If the support line can hold, we can expect a move to the resistance line, and possible even a breakout into the higher resistance levels. Also out for the economic news expected this week, there is quite a bit of US data due.
Buy Limit Order @ 1.26522
TP 1 @ 1.27901
TP 2 @ 1.28911
Stop Loss @ 1.25724
Trade Safely 🙂