Falling trendline acted as a support after being broken. Current price level is also supported by a rising line. I'm expecting this level as a continuation of the uptrend. The price will possibly retrace back to %61.8 fib. level (1.0135).
Breaking of the rising trendline means testing the falling trendline one more time. We will be long at this level putting our stops under the falling trendline. If it breaks, we will be shorting $USDCAD targeting 0.9800 levels. This level will be final level for reversal. We will definitely be loading our long positions at this level.
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Breaking of the rising trendline means testing the falling trendline one more time. We will be long at this level putting our stops under the falling trendline. If it breaks, we will be shorting $USDCAD targeting 0.9800 levels. This level will be final level for reversal. We will definitely be loading our long positions at this level.
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