it will move only 289 pips. your take profit won't be hit.
USDCAD has spent the better part of 2019 moving sideways. However, the price action in early March saw buyers take advantage of what appears to be a bottoming pattern. The inverse head and shoulders below could be indicative of a move higher. You can see how buyers defended new support at 1.3290 during yesterday’s session. And USDCAD bulls are off to a fast start once again today. My only concern here is the U.S. dollar. I’ve been relatively vocal about the potential for a EURUSD rally later this year. And that means a weaker USD at some point. But that could happen later this month or two months from ... (full story)