USD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.2628, 1.2687, 1.2700
Key Support Levels: 1.2466, 1.2366, 1.2350
The price on the higher time frame the price moved higher after the Wyckoff accumulation phase where it posted higher highs and lows. The price as well succeeded to break the daily resistance around the 1.2466 USD and retrace to it. We are expecting further movement to the upside in the coming hours.
USD/CAD Medium-Term Trend: Bullish
On the lower time frame, the pair is trading inside a bullish channel formation where we are about to see a lower correction to the highlighted zone which coincides with the lower end of the channel. This could lead to a move upward in the same direction of the main trend.
Buy Limit Order @ 1.2526
TP 1 @ 1.2626
TP 2 @ 1.2687
Stop Loss @ 1.2492
Trade Safely 🙂