USDCAD Analysis: Possible Long Trade 1H

14 Jun 2020

Hello Traders! Here we have an analysis on USDCAD. In this setup we are looking for a bounce off of the 50 SMA and our drawn trend line into a possible 1:1 push upward to one of our levels of resistance. After breaking the bearish channel, it retested with some solid bullish momentum. Although my overall bias on USDCAD is bearish, on the 1H time frame we have a possible long opportunity for 150 + pips.