TradingSutra

USDCAD : Bullish Reversal

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
As provided in the last idea , USDCAD was in a formation of ending diagonal which has completed in today's session. Right from there we have seen an impulsive move in upward direction. This impulsive move is providing a signal that the ending diagonal & so correction of USDCAD has been completed. Expecting the pair to extend its third wave & give a closing above 1.33400 level. As per the guidelines an aggressive trader should buy here & the conservative trader can wait for the level of 1.32400 to be hold for the target of the origin of the diagonal & above that level.

Please see the attached link for the previous idea.


Thanks
Trade closed: target reached

Manish Bhardwaj
Analyst & Co-Founder
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