USD/CAD has been bullish for the last three days. The daily chart shows that the price upon finding its support at a strong buying zone has been heading towards the North. Yesterday’s candle came out as a bullish candle with a long lower shadow. The price had a bearish correction. It seems that the price has found its support. The pair may offer a long entry upon a bullish breakout.
Chart 1 USD/CAD H1 Chart
The chart shows that the price had a rejection at 1.41170 after making a bullish move. It then had a rejection again and headed towards the South. As of writing, the last bearish candle closed within 1.40700. The level may hold the price as a level of support. If it produces a bullish reversal candle, the buyers may go long above the level of 1.41170.
Trade Summary
Entry: Buy above 1.41170
Stop Loss: Below 1.40700
Take Profit 1: 1.41400
Take Profit 2: 1.41540
Take Profit 3: 1.41800