USDCAD (Long)

Breaking strong trend line with a move down, the price is moving short and our target is: 1.2678.

Result: 31+ Profit

Choosing this trade was difficult, there was this strong trend line in the chart below preventing us from open the position, but the signal was strong and we choose to get in.

Overview:

4 Hour cycle is bearish against (1.469) and 1 hour cycle has turned bearish against (1.3793). The cycle from 5/05 peak has ended in the pair at 1.2409 low and pair is correcting that cycle in larger correction before turning lower. Near term, cycle from 7/27 low should end with 1 more leg higher towards 1.2817 – 1.2856 area, then it should pullback in a correction swing to correct cycle from 7/27 low before the rally resumes.