#USDCAD Swing buy setup

Hello fellow traders and investors,

Let's us save you the words and unnecessary details, because this chart and the charts below are self explaining.

Monthly
Monthly uptrend channel since 2012 still intact, price is hovering around the multi-year channel support

Weekly
The weekly candle is showing interesting price action at the multi-year monthly channel support.

Daily
The daily chart shows the short term downtrend resistance is breached, with brute force. At the moment of writing the price is consolidating, a retest of the low with a higher low is likely to happen. From there we can buy with the stop loss a couple ticks below the low of 2017, for a long term swing trade.

Good luck and don't forget to give us a thumb if you like our analysis! If you have any questions or want us to analyse a specific pair, feel free to contact us.

Regards, ValescoTradingGroup