Dear Traders,

There is a bullish engulfing pattern on the Daily chart of the USD/CAD pair. The next session was marked by a small doji-like candle, which might be a sign of relief or hesitation, but in our case, I would take this as a sign of relief. I expect to see more advances early next week and more bullish momentum from this fx pair. All stops should be placed under 1.1060. The 4 Hour chart is also showing a congestion area in an uptrend, which is another confirmation for the bullish momentum.

Happy Trading,

Colibri Trader


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