Hello traders:
Most of USD pairs are due for some strength, and looking at USDCAD's price action here certainly can lead into some opportunities.
We can see there is a higher time frame descending channel correction, pushed the price down to a double bottoms.
Once the price reaches around this area, we begin to see an expanding kind of correction.
As we know these type of corrections are a bit more advance, so its best to wait the development to complete.
I would wait for the current price to finish consolidating and breakout above,
then lower time continuation correction to look for the buy to the top of the HTF channel.
Thank you
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