Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.4040). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 62.
Take Profits:
TP1= @ 1.4115
TP2= @ 1.4261
TP3= @ 1.4667
SL= Break below S2
. There is a possibility of temporary retracement to suggested support line (1.4040). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDCAD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 62.
Take Profits:
TP1= @ 1.4115
TP2= @ 1.4261
TP3= @ 1.4667
SL= Break below S2