USDCAD: Update & The Things to Watch Today 🇺🇸🇨🇦

Hey traders,

Update for USDCAD pair:
yesterday we were waiting for a bullish breakout of a horizontal decision range on an hourly time frame.
Instead, the price went lower.

Now the pair is approaching a weekly rising trend line.
On that, the price formed a double bottom formation.
A confirmation that I need to buy is a neckline breakout.
I need an hourly candle close above 1.26 - 1.2612.

Then a bullish continuation will be expected to 1.26445 / 1.267

If the prices breaks a trend line on a weekly,
the setup will be invalid and a bearish continuation will be expected.

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تعليق:

Check my new idea on NZDUSD: