USD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.3049, 1.3078, 1.3150
Key Support Levels: 1.2944, 1.2868, 1.2835
The price on the higher time frame was trending in the downwards direction and faced rejection around 1.2520 level and reversed the direction. The two resistance levels of 1.2787 and 1.2882 have been broken and good momentum is seen in the price after some volatility during the data release.
USD/CAD Medium-Term Trend: Bullish
On the lower time frame, the pair is moving in the major trend’s direction. The price has formed a higher-high, higher-low pattern and respects the trendline. It recently retested the minor level of 1.2944 and is continuing the momentum again.
Buy Stop Order @ 1.2983
TP 1 @ 1.3044
TP 2 @ 1.3166
Stop Loss @ 1.2922
Trade Safely 🙂