Resistance Retest | Pullback Expected

USDCAD currently finds itself retesting the previous level of resistance and holding on pretty well so far. Assuming this level holds, we will be looking for a pullback to retest the current ascending trendline in correspondence to our 0.5 fib retracement area, and potentially bounce off into further bullish momentum.

Monthly candle on USDCAD shows huge bullish candle wick forming up - providing us with a bullish sentiment for next months price action on this pair.

Trade at your own risk!

Order cancelled:

Failed to hold resistance.

Trade active:

Fakeout 4H candle, order still valid for next week