Strategy: Long at 1.0501, Targeting 1.0713Weekly Profit / Loss: +83 pips
Total Profit / Loss: +83 pips
We entered long USDCAD at 1.0501 as prices took out resistance at a falling trend line established from the swing high in mid-May following a rebound from horizontal support at 1.0294. The pair has stalled at resistance in the 1.0588 – 1.0643 congestion region, put positioning hints this is a temporary setback and we remain long, initially targeting 1.0713. A stop-loss will be activated on a daily close below 1.0393.
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