From last week price movement, USDCAD was on an uptrend at the start of the week. Now, right after monday's close i knew that USDCAD was pretty much going to consolidate for a while and then drop which has happened just as i anticipated. USDCAD has now find confluence in the mid 1.3100's and it's now preparing to go higher even taking out the previous high. I do see a descending trend line, below which price is currently trading at the moment. However i do see USDCAD breaking that trendline, retesting it and then going higher. Currently i am already in this trade, at the moment and i can possibly open another position once price has broken above the trendline.
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