FX.co ★ Daily Video Analysis: USDCAD facing bullish pressure, potential for a 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 as it continues to hold above the ascending trendline support. We could potentially see a bounce at our buy entry level, in line with our 50% Fibonacci retracement, and a further rise up to our take profit level, in line with our -61.8% Fibonacci retracement and horizontal swing high resistance. It is worth noting that the RSI is also approaching the ascending trendline support where it has reacted off before.