Buy above 1.3200. Stop loss at 1.2990. Take profit at 1.3600.
Reason for the trading strategy:
USDCAD made a bounce up as expected and reached our profit target once again. We remain bullish above 1.3200 support (Fibonacci retracement) for a push up to major resistance level at 1.3600 (horizontal resistance, Fibonacci retracement).
Stochastic (21,5,3) is displaying strong bullish divergence vs price.
Reason for the trading strategy:
USDCAD made a bounce up as expected and reached our profit target once again. We remain bullish above 1.3200 support (Fibonacci retracement) for a push up to major resistance level at 1.3600 (horizontal resistance, Fibonacci retracement).
Stochastic (21,5,3) is displaying strong bullish divergence vs price.
