USD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.29296, 1.29497, 1.29967.
Key Support Levels: 1.28054, 1.27811, 1.27646.
Daily Time Frame:
The price on the higher time frame is in a clear upward movement where higher highs and lows has been posted. Recently the market corrected to the support level where an engulfing bullish pattern has been posted showing that a new impulsive wave will push the price to the upside toward the next key resistance level.
USD/CAD Medium-Term Trend: Bullish
1-Hr Time Frame:
On the lower time frame, the price succeeded to break the bearish channel to the upside where a small consolidation phase has been seen under the support zone (1.28148 CAD). A lower correction could be seen before a new bullish impulsive wave toward the target profits.
Buy Limit Order @ 1.28148
TP 1 @ 1.29207
TP 2 @ 1.29497
Stop Loss @ 1.27624
Trade Safely 🙂