Potential long USDCAD

Been keeping an eye on this pair for the past 2 days as after an extended move up at the end of december, the price started retracing beginning of the year and is now consolidating at a previous level of support/resistance.
If price break to the upside I'll be looking to buy this pair with a first target in the 1,36 area. However, if it breaks down through the support level, I'll be looking to sell it with a first target in the 1,3050 area.

Let's see if we get involved today or if it will something on the radar for next week.

Good luck in the markets today and have a great weekend!

Trade active:

Took a while but got an entry signal at the close of the last H4 candle so now long this pair. First target in the 1,36 area (or lower if I get a “slowing down” signal earlier on the H4)

Comment:

Took most of the position out on a slow-down signal late tuesday for a tiny win (+3 pips). Does not look good for the last part of the position left (a few pips away from my SL) so expecting to get stopped out (loss will still be less than original risk as I took most of the position out already).

But as long as we do not close below the 1,3180 on the daily, I'm still having a bullish biais on this pair and will be looking to get long next week (closing below the 1,3180 will change my biais to a bearish one and I'll then be looking to sell this pair)