USD / CAD rose immediately after a false breakout at the 2017 low. This means that long positions can be taken and target can be set at 1.47.
To be more specific, since there is a three-wave pattern (ABC) in the pair where wave A represents the buying pressure since April, traders can open long positions in the market to provoke a 50% pullback from 1.25. Stop loss can be set at 1.22, while profit can be taken as soon as the pair breaks down 1.3 and 1.47. This follows both Price Action and Stop Hunting strategies.
Good luck and have a nice day!
