We expect this week to start with a risk rally which should provide lucrative opportunities to go long USD pairs. We are specifically looking at the following pairs.
USD/CAD: This pair has broken out of its bull flag consolidation pattern. We will be looking to go long on a retest of the broken channel in the 1.02-1.0225 region with targets above 1.0425
USD/CHF: This pair has found support ahead of the 50% Fibonacci retracement level of the resent rise. We will be looking to go long close to 0.95 with stops below the lows at 0.9420 and targets above 0.9772.
We will update you when our positions are triggered. Good luck trading.
Figure 1: USD/CAD
Figure 2: USD/CHF
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