USDCAD Breaks Wedge Resistance, Targets 1.4190

From dailypriceaction.com

Over the weekend, I mentioned the bullish wedge that has been forming on the USDCAD 4-hour chart for the past two weeks. In that commentary, I also noted that an opportunity to get long would only materialize on a close above wedge resistance. Sure enough, the last 4-hour candle managed to close well above the key handle, solidifying the bullish breakout. This accelerates our previous idea into a full blown trade setup with favorable upside potential. However, in order for an extended move higher to be realized, the bulls first needs to deal with the 1.40 handle. This will be no easy task considering it not only ... (full story)