USDCAD - Double Bottom

The market formed a double bottom at 1.33000 support level and SMA100. We have a support zone and the reversal chart pattern at this zone which was confirmed when the price broke the signal level. The price made an upward movement trying to break the local downtrend line. The attempt was not successful and the price drop below the resistance line.

Now we have 2 possible levels which can be used for placing pending orders in both directions.
If the price can't break the downtrend line and continue the upward movement, we should be ready to see the breakout below 1.33000 support level. It will give a short opportunity with stop orders above the local swing high and profit targets at the 1.32000 support level and the main uptrend line.

If the price can break the downtrend line, it will be possible to use this signal for buying with stop orders below SMA100 and the main profit target at the 1.34000 resistance level.