This looks like the end of the downtrend for the USDCAD.
Since the previous structure failed to create a lower low we are now reversing into a bullish trend.
Wave C will form a Bullish impulsive wave.
Let's wait for the price to hit the previous low before entering the trade or wait for price to bounce off the bullish trend line
Buy Stop @ 1.2750
Stop loss @ 1.27200
Take Profit@1.29380
Since the previous structure failed to create a lower low we are now reversing into a bullish trend.
Wave C will form a Bullish impulsive wave.
Let's wait for the price to hit the previous low before entering the trade or wait for price to bounce off the bullish trend line
Buy Stop @ 1.2750
Stop loss @ 1.27200
Take Profit@1.29380