USDCAD the dollar against the Canadian dollar has been in a consolidation in the weekly chart between 1.21421 and 1.20117 Therefore we are expecting a bigger wave through the breakout of the sideways move.
Base on the marker behavior the 1.20117 Level has been very difficult support to breakthrough. A bullish setup depends on strength and weakness of the Dollar this month.
However last month Canadian dollar was strong and we expect some weakness on the currency during the week. The setup below will help you to combine with your strategy to manage your trades.
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