TradingShot
Long

USDCAD on a sustainable rebound

FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
A while ago, I posted the following chart, saying that USDCAD was 'still far from a long term buy'. The conditions are finally set for the pair to be a fair long-term buy opportunity:



Pattern: Channel Up on 1W.

Signal: Bullish as the price rebounded on the 1W MA50 while the RSI hit its long-term Buy Zone.

Target: 1.4200 (first Resistance) and 1.46800 in extension (Higher High zone of the 1W Channel Up).


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