Analysis by: ForexRoyals
Currency: USD/CAD
Trend Expected Direction: Up.
Method: Resistance and Support levels, Pivot points.
Description: The USD/CAD is currently above the Pivot point 0.9950 and just reached and retested the bottom line of the upwards channel. If we extend the uptrend line, we can see it crosses a strong resistance level at 1.000 which we cannot ignore.
Action: Best action is to buy above the Pivot point.
Target Area: First target 1.000, second target 1.0025.
Stop Loss: 0.9910
