FeroxWealth
Long

USDCAD Buying Opportunity

FX:USDCAD   U.S. Dollar/Canadian Dollar
Since Brexit USDCAD             is seeing pressure to the upside. While it may be choppy with relatively violent swings, the underlying trend is to the upside. Buying down swings has been preferred with the bulls remaining consistently in control. Recently we have just seen a decent pullback on this pair and formed a bottom with a significant double bottom formation. The buying pressure that has stepped in since the formation of the double bottom has held which is usually a sign that price intends to go higher. IF price can break out of the short term down trend and close above it one may want to consider going long USDCAD             with a stop loss below of the low of the double bottom . GOOD LUCK!
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