Though USDCAD is very chaotic in the last few days yesterday we saw a very strong bullish impulse breaking the resistance line of a falling channel and setting a new higher high higher close.
however, I am very very skeptical about further bullish continuation of the pair. analyzing structure on 4H and daily chart, we see that the market is entering a wide supply zone.
I will be looking for a reversal formation inside this zone to short the pair.
Target levels will be 1.33 and 1.326
Please, remember: no matter which trading strategy will you choose, with our stop above the supply zone our position will be protected.
good luck!
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