USDCAD potential bullish reversal
on DAILY: USDCAD is sitting inside a strong support area in orange, and almost filled the previous GAP, so we will be looking for objective buy setups on lower timeframes.
on M30:
Short-term: we are waiting for a new swing to form around our blue trendline to consider it valid and enter on its break upward.
Long-term (conservative): we are waiting for a new swing to form around our red trendline to consider it valid and enter on its break upward.
we also have a regular bullish divergence on MACD adding more confluence to our buy setup.
Meanwhile, USDCAD would be overall bearish , until a buy setup is activated.
on M30:
Short-term: we are waiting for a new swing to form around our blue trendline to consider it valid and enter on its break upward.
Long-term (conservative): we are waiting for a new swing to form around our red trendline to consider it valid and enter on its break upward.
we also have a regular bullish divergence on MACD adding more confluence to our buy setup.
Meanwhile, USDCAD would be overall bearish , until a buy setup is activated.
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