USDCAD is in a bullish trend with the higher high and higher low structure and is on the verge of catipulating the bullish impulse from the support level, where its sitting. The price of it is at 1.3500. The market can continue moving up towards the resistance level which is the 100 point profit target for us. 

Below the support level, we have our stop losses. 

The descending trendline has broken out for buys and the market is going to validate the price action once it moves further away from the trendline to continue moving upwards.

The retracement level of 61.8% is in confluence with the support level which needs to enhance the ability to continue moving up.

EMA 50 is bearish and the market can retest this EMA 50 as a profit target. Once it crosses, we can be sure of the trend direction changing towards the bullish side.

RSI is at 46. It needs to dwell into the over sold region in order to align with the technical factors and form a bullish divergence. 

Long time no see USDCAD

Sep 15 2023