USDCAD

USD started the week on a slightly higher note. Here’s a potential long trade for the USDCAD currency pair:

USDCAD-Buy-MAY28
USDCAD Daily Chart, Long @ 1.29921 TP: 1.30296 SL: 1.29154

Breaking above the linear regression line (the middle red dashed line) indicating a move upward toward the upper bound of the channel. I used fibonacci retracement levels in order to set my take profit which is slightly lesser than my Stop Loss, however I sometimes take trades like this if the odds are in my favour based on my strategy.

Let’s wait and see!

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