FX:USDCAD   U.S. Dollar/Canadian Dollar
Here on the Daily chart of USD/CAD             we have a potential long position setup in the coming days.

The first green box indicates the previous structure resistance.
With this being a strong resistance area prior to it's break, we feel this should act and hold as strong structure support if we see a retracement.
There is also an added bonus of this area coming in at 1.28 physiological number.

Taking a Fibonacci we get a 0.382% coming in at 1.255 also at previous structure, thus giving us more confluence to look at getting long on this pair.

The candle formations are more visible on the 4h and 1h charts, however the previous structure is less viable hence the daily chart .

Have a great trading week.
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dedi.irawan00
a year ago
Good setup, i will follow
Thanks Tom for sharing,
+1 Reply
TomHall TOP dedi.irawan00
a year ago
Thank you.
Reply
Novan_FR
a year ago
good . . .
+1 Reply
albertos
a year ago
USDCAD bullish pattern
Thanks for chart
+1 Reply
TomHall TOP albertos
a year ago
Good work mate, Let's hope it all plays out.
Reply
albertos TomHall
a year ago
Good Tom
Reply
Great chart Tom! From a Canadian dollar/Oil correlation, I see Crude marking up to 56.51, which it last saw in the 7/2 timeframe; this is right in line with your second target.

Good trading to you!
+1 Reply
TomHall TOP smitheric1970
a year ago
Thanks very much, best of luck.
Reply
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