USDCAD Look for the breakout from this channel

Hi traders:

Looking at USDCAD for the reversal bullish move.

We see price has been in this large correctional parallel channel structure, pushing price down.

Latest price action sees a lower time frame descending channel within the larger channel structure, and strong bullish impulse up, breaking above that small structure.

As usual, look for lower time frame continutation correction for the buy setups.

If we see price impulsively break out of the larger parallel channel structure, then expect a correction to form and continue the USD strength.

Thank you

Kommentera:

Price impulse up from the bottom, look for breakout and more corrections to get in the buys.