USD/CAD
Strategy: Long at 1.0558, Targeting 1.0875
Last week, USDCAD broke above resistance at the top of a falling channel that had guided prices lower since the swing high in March. The pair has now retraced downward to re-test this boundary and put in a formidable Bullish Engulfing pattern, signaling a rally was ready to resume. We will enter long from here, initially targeting the 11/02 wick high at 1.0875. A stop-loss will be activated on a daily close below 1.0415.
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