USDCAD -
Currently rallying up, this is evident because the pair is making higher highs and lows as you can see.
If previous swing low is violated and price closes below it then I believe USDCAD will fall.
However my current bias is bullish and I'm expecting another push/leg to the upside with targets at previous swing high 1.3100 and also long term at 1.34000 should this rally continue.
I've placed my stops at 1.2700 because should price close on the daily below previous swing low as I stated before then my bias is wrong and market is bearish.
Currently rallying up, this is evident because the pair is making higher highs and lows as you can see.
If previous swing low is violated and price closes below it then I believe USDCAD will fall.
However my current bias is bullish and I'm expecting another push/leg to the upside with targets at previous swing high 1.3100 and also long term at 1.34000 should this rally continue.
I've placed my stops at 1.2700 because should price close on the daily below previous swing low as I stated before then my bias is wrong and market is bearish.