Usdcad has formed pin bar on the daily chart which is suggesting for bullish movement on this pair. It gives an idea about bullish trend continuation on this pair. So it is better to stay in bull mode for this pair. So we can go for the long trade on usdcad. Stop loss will be below the Pin bar level. Tp will be 40-100 pips
USDCAD H4 chart: On the chart, we can see that Usdcad has rejected from 100 and 200 EMA with a big bullish candle. It is showing its bullish power again. So above this moving average, we can stay in bullish mode.
On the other hand, this pair is facing little resistance at 1.3410-20 level. If it can break this level, then the more bullish movement can be seen. If any bearish candle formed on h4, then for day-trading, we can go for sell.
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