USDCAD: Will 1.3000 Hold?

FX:USDCAD   U.S. Dollar / Canadian Dollar
Hi Trader,

We have a potential double bottom forming at previous structure. Looking left on the chart you can see that price has respected this level in the past. Additionally, we have confluence with a 61.8% fibonacci retracement right there at structure.

As this is a Daily chart setup, the stop is a lot wider than my usual setups, around 250 pips. Targets are 1.36 and 1.3950 once target 1 is reached roll stops to breakeven.

Good trading,

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