RiccardoAnnoni
Long

Has USDCAD found a bottom?

FX:USDCAD   U.S. Dollar/Canadian Dollar
18 0 1
Dear traders,
as you can see the evidence: we have a nice hammer bouncing off fron 1.19 and then two consecutive bullish candles with moderate upper wigs that suggest that sellers are not ready to contest this breakout with maximum committment.

For me this setup favors the upside and the 1.24/1.25 band is the target we should aim to.
Stop loss is of course at a daily close below the low of the Hammer.

Cheers
R
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