USDCAD Analysis: Possible Long Trade 1H

U.S. Dollar/Canadian Dollar FX:USDCAD

Lippy14

Hello Traders! Here we have an analysis on USDCAD . In this setup we are looking for a bounce off of the 50 SMA and our drawn trend line into a possible 1:1 push upward to one of our levels of resistance. After breaking the bearish channel , it retested with some solid bullish momentum. Although my overall bias on USDCAD is bearish , on the 1H time frame we have a possible long opportunity for 150 + pips.

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