USD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.28925, 1.29295, 1.29948.
Key Support Levels: 1.27927, 1.27384, 1.26988.
Daily Time Frame:
The price on the higher time frame is in a clear upward movement where the price is posting higher highs and lows and succeeded to break the resistance levels. A correction is about to end near the 1.27927 CAD mark which could lead to a new bullish impulsive wave in the same direction of the main trend.
USD/CAD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the market succeeded to break the bullish flag formation to the upside by the help of the double bottom. We expect further movement to the upside but before that a lower correction could be seen to the highlighted zone.
Buy Limit Order @ 1.28041
TP 1 @ 1.28925
TP 2 @ 1.29295
Stop Loss @ 1.27750
Trade Safely 🙂