Over the last week or so, both our Morning View reports and Twitter profiles have been been talking about a possible USD/CAD buy setup.
USD/CAD Daily:
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Long term, price is trending up and we have what now looks like a bull flag running down to the trend line.
USD/CAD Hourly:
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Price has tested the bottom of the flag 3 times now, with the latest touch, barely coming into our marked demand zone before being rejected higher.
If price gets sucked lower for another touch into the demand zone then we are looking at a break but there is definitely a low risk buy play at current levels.
Let us know what you’re watching or trading? Leave a comment below or mention @VantageFX on Twitter (NYSE:TWTR).
Dane Williams – @VantageFX