Fisher_Fx

USDCAD: Potential LONG waiting for confirmation

FX:USDCAD   U.S. Dollar / Canadian Dollar
On the weekly timeframe ,
we can see that this level is acting as a strong support.
There are also 2 weekly candles with long wicks now,
showing buying pressure from here.

On the 4-hour timeframe,
we can see that the price is still bearish
moving in a descending channel .
But we should also note that it is a bullish pattern .

The price is now at the resistance of the channel,
so we can expect it move downside.
It would be ideal if the price could form a
small bull flag and the breaks out of the channel.
This would be the confirmation for a LONG.
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