FX.co ★ Daily Video Analysis: USDCAD facing bullish pressure, potential for further rise!

Today we take a look at USDCAD. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bullish pressure, where a break above our buy entry level, in line with our 38.2% Fibonacci retracement, may provide the momentum for a bullish acceleration towards our take profit level, in line with our horizontal swing high resistance. Stochastics has also just bounced from the support level where it has reacted from in the past, in line with our analysis.