USDCAD: A base already formed?

Yue Wang LinoCapital

USDCAD closed back above 200 day MA and threatens to close above the downtrend channel.

Short term some upside movement is likely.

If so, today ideally should not close below 1.2580.

The downtrend from last month could only be counted as 3 waves.

1.2815/27 will be key levels to watch.

Directly close below 1.2527 will negative this view.

USDCAD Trade Idea:

Buy limit @ 1.2588 stop 1.2525 for 1.2716

Click on the image to enlarge

Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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