USDCAD: Important Breakout & Technical Outlook
USDCAD is trading within a major falling parallel channel on a daily.
Last week its support was reached, and the consequent reaction was very impulsive:
the price managed to violate a resistance line of a falling wedge pattern and close above that.
Now bullish continuation to the resistance of the major channel is expected.
Broken resistance of the wedge and 1.278 local horizontal structure serve as a local demand area right now.
If you missed long opportunity, I would recommend waiting for a pullback first.
Note
Check my new analysis on GBPUSD: 
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✅Join My Telegram Channel: t.me/VasilyTrading
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💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
❗️YouTube Channel youtube.com/c/VasilyTrader
💰Instagram: instagram.com/VasilyTrader/ 💰
✅Facebook: facebook.com/VasilyTrading/ ✅
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.