The loonie has formed a wedge during this week and yesterday it managed to break it; today there has been a retest on the trendline. 50 moving average in h4 is supporting the price action and I think that there are good chances for an upside leg whith 1.387 as a target. Ichimoku cloud (the "kumo") is now under the price and is offering support, kijun and tenkan sen are still moving sideways, so there is not a clear sognal yet but in my opinion if price does not close under 1.35 there will be a bullish leg.
Use a stop loss, in the picture the risk/reward ratio is a bit over 2, anyway you can decide to use a tighter stop, it depends on your trading plan. Study H1 chart if you want a perfect entry.
Use a stop loss, in the picture the risk/reward ratio is a bit over 2, anyway you can decide to use a tighter stop, it depends on your trading plan. Study H1 chart if you want a perfect entry.