Possible Long opportunity on USDCAD Daily Heikin Ashi chart.
Pros:
1. Price formed double bottom at S1 level pivot point
2. StochRSI is in oversold area.
3. MACD formed bullish divergence
4. Price formed doji candle followed by strong bullish candle
Cons:
1. Price is below 50, 100 and 200 SMA (simple moving average) - still a longer-term bearish trend.
Pros:
1. Price formed double bottom at S1 level pivot point
2. StochRSI is in oversold area.
3. MACD formed bullish divergence
4. Price formed doji candle followed by strong bullish candle
Cons:
1. Price is below 50, 100 and 200 SMA (simple moving average) - still a longer-term bearish trend.
Better to follow the trend: