Last week the currency pair USDCAD initially rallied but then fell to form quite a negative candle. However, when we look into 4-hour timeframe, we can see a clear uptrend. In fact the pair is currently sitting at the support zone where we can potentially look for signs of support.
At this point if we can get a supportive candle such as a hammer or a bullish candle such an engulfing candle, we can possibly go long with the target shown on the chart.
Disclaimer: Our analysis and forecasts given on this website are just our point of view about the market. It is not a trading signal or investment advice.