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USD/CAD

Last week, as we can see on a weekly chart, the pair created a bullish engulfing pattern.
Not only that, it also broke up the descending resistance line of the last decline move.

Is this a good enough signal for entry to a trade?

The answer is yes, because on a daily chart we received a buy signal last week.

As seen, the pair broke up the descending resistance line, together with that, the pair crossed up the moving average (13) and the 50 level of the RSI.

For Forex traders:
Buy between the levels of : 1.2900 – 1.2950.
Stop loss point :1.2850.
Take profit point : 1.3250.

For Binary options traders.
A call option between the levels of : 1.2900 – 1.2950.
Expiry time : May 13 – May 20.

 

Good luck.