USDCAD - Bullish Bias with 1.3420 as Target

Price developed a strong impulsive reversal from the 1.2927 low and has since been developing as a corrective structure.

Price has also retested the 50% fib area around 1.3049.

We are expecting price to break out impulsively from here next week with a potential target at the previous high at 1.3420, forming a 3 wave structure to the upside.

Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.

The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.