An ascending H2 level pattern has formed on the chart. The wave (A H2?) broke through the inclined channel of the descending pattern, the expected correction (on H2) tested 50% on fibo and the price pivot zone of 1.4000. A breakout of 1.4078 will result in the formation of an ascending pattern within the wave C of the H2 level. Stochastic Oscillator also showed an exit from the oversold zone.
Trading recommendations:
Buy above 1.4078.
Stop loss: 1.4000.
Target levels: 1.4150; 1.4262.
If the price drops to the 1.4000 level, cancel the trading plan.
The USDCAD rate online: monitor the movement of the pair in real time.