USD/CAD Long Has Been Triggered

[B]My picks:[/B] Long USD/CAD
[B]Expertise:[/B] Fundamentals Combined With Technicals
[B]Average Time Frame of Trades:[/B] 1 Day - 1 Week

This is my trade from Friday, when USD/CAD was testing a rising trendline connecting the 2007-2008 lows. My long entry was triggered as we’ve seen the pair bounce from the trendline. Stops should be placed 20-30 points below Friday’s low of 1.1189. Initial targets include 1.1500 (former support in November 2008 and May 8/11, 2009) and 1.1783 (recent highs, January lows).