USDCAD is testing the wedge resistance line
USDCAD is testing the wedge resistance line 1.2150 for a breakout higher. A confirmed break above this level could lead to an upside extension and a test of 1.2400. USDCAD seems to be basing and this wedge break could lead to a huge upside reversal. Another brief dip to 1.2060 might not be excluded but despite that building, a long position is a viable strategy.
Note – look for the long trade at the market with the stop loss just below 1.2060
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