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USD/CAD Potential Upward Movement

USD/CAD Long-Term Trend: Bullish

Key Resistance Levels: 1.26961, 1.27341, 1.28000.

Key Support Levels: 1.26291, 1.25619, 1.25227.

Daily Chart:

The price on the higher time frame found support around the 1.25227 CAD mark where it reversed and moved higher. It left a huge fake breakout to the downside and now it is traded above the 1.26291 CAD level. we expect further movement to the upside in the coming hours.

USD/CAD Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the pair succeeded to break the trend line to the upside after posting a double bottom. The market is ranging above the 1.26291 CAD mark and we expect a new impulsive wave to the upside toward the targe profit.

Signal Idea:

Buy Limit Order @ 1.26305

TP 1 @ 1.26940

TP 2 @ 1.27341

Stop Loss @ 1.26000

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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