FX.co ★ crystal66 | USD/CAD

In the end, overall, on the daily chart of USD/CAD, I see a simple picture. USD/CAD has reached the same trend line. This line was in January. We immediately bought. A regular absorption appears at the support. And on larger timeframes, this usually means that the sellers are done, so I believe that the sellers have left. Next week I have a plan: first, check the level of 1.3740. If the price does not get stuck there, then I look further to 1.3850, so I check. The level of 1.3850 is the upper boundary of the channel. The level of 1.3960 is only in my thoughts for now. But if the dollar index does not disappoint, then we can reach there. I believe that the most important thing is not to fall below 1.3630. If the price falls below, then the bullish idea will collapse, and it may reach 1.3520. The Canadian dollar, of course, is watching oil, but technical analysis currently indicates growth. I think it's possible to cautiously enter a long position, placing a stop below the local minimum.