USD/CAD: Rising Channel & Retracement
Now here's a potential retracement play on USD/CAD. As you can see from the chart, the pair is still moving inside a rising channel on its 4-hour time frame but it appears to be pulling back after finding resistance at the top. The pair could retrace until the 38.2% to 50% Fibs, which are in line with the bottom of the channel. Set your stops below the channel or the 61.8% Fib if you're thinking of going long.
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