BretRamkey

usdcad good long short term opportunity

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD is hitting a very very strong trendline that has held for Weeks. After seeing the very bulling pin bars on the previous support at the higher low, i believe that a large number of buyers will enter here just like the last touch, but rather than be skiddish, this pair is going to shoot right back up to the 1.33 levels and retest that resistance. From there, we could potentially see another drop and potential break of trend as in the longterm, this pair is creating a rising wedge , However this pair may still have one more push to the upside left in it.