USD/CAD| Possible Long-term bullish reversal

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.26943, 1.27263, 1.27717

Key Support Levels: 1.26430, 1.26245, 1.26061

1-Day Chart:

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

1-Hour Chart:

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.

Signal Idea:

Buy Limit Order @ 1.26522

TP 1 @ 1.27901

TP 2 @ 1.28911

Stop Loss @ 1.25724

Trade Safely 🙂