USDCAD: Long Trade Triggered Above 1.02
Strategy: Long at 1.0210, Targeting 1.0394
USDCAD put in a bullish Breakaway candlestick pattern below above support at a rising trend line set from late October, hinting an upswing is ahead. We will enter long here, initially aiming for a soft target at 1.0394. A stop-loss will be activated on a daily close below 1.0125.
Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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