The currency pair is trading in an upper moving channel. The breakout is seen but we would wait for a proper confirmation to go long. There is a flag and pole pattern formation in the currency pair, its majorly a continuation pattern; A breakout in the opposite side is also possible, a trap can give a better performance in flag.

We had a sell view in the currency pair previously and the target was met, we are expecting a downward move to continue. On the other hand if the pair is able to close above 1.2850 levels then we will change our view.

Majorly all indicators and oscillator is indicating positive move, price is also suggesting a positive breakout, we will only go long if the pair is able to sustain above the recent close for 1 more day if its is able to do so we will go long with a strict SL of  1.25810

USD/CAD

Nov 20 2021