USD/CAD
Strategy: Long at 1.0558, Targeting 1.0875
Weekly Profit / Loss: +108 pips
Last week, we entered long USDCAD as prices put in a formidable Bullish Engulfing pattern on a re-test of broken resistance at the top of a falling channel that had guided prices lower since the swing high in March. The pair has indeed moved higher and we will remain long, 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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