USDCAD Bullish Continuation After Re-test Of The Breakout

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USDCAD Bullish Continuation After Re-test Of The Breakout

Hi Traders! We have USDCAD bullish continuation after re-test of the breakout. This pair has broken above the H4 channel creating some great bullish momentum and it is currently re-testing the breakout.

USDCADH4 Chart:

On the H4 chart currently we are in front of a key supportive zone. We also have a potential hidden bullish divergence which has formed already which we may consider as an evidence of bullish pressure.

As long as the 1.30 psychological, round number is holding we can look for buys with bullish evidences.
USDCAD Bullish Continuation After Re-test Of The BreakoutInvalidation: If the price breaks and holds below the 1.30 psychological, round number then this setup will be invalidated.

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Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this buy setup then you can use any setup and strategy that you have in your arsenal to look for bullish moves and join this buy trade.

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Regards,

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Chief Trader at Traders Academy Club

 

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