Disclaimer: this is an idea, trade off it at your own risk
USD CAD has just made a false breakout and has made a strong move up and broke out of the 4H trend, it has also reached above the 200 EMA line.
We should be waiting for the retracement as it approaches the 50% - 61% fib area and look for the perfect buy in that zone (140 - 260 PIPS in Profit)
GBP Strengh has been relentless
We favour the LONG side of this pair now having cleared liquidity at previous levels identified in last GBPCAD shared idea on this platform.
A NEW 52W WEEK HIGH SEEMS VERY DOABLE FROM HERE.
The CAD has a slow-n-steady channel to the upside. We are coming off the bottom of the channel, so I would expect strength in the short term. Pair the CAD with a weaker currency and trade accordingly... or pair with another strong currency and trade the range.
Expect a long term bias to the upside with measurable consolidations.
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we see price forming iversal head and shoulder promising us a buy
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