USDCAD - Bullish Reversal - 20/05/2024

USDCAD has been trading in a strong Bearish Trend, following which, a strong Bullish Divergence has been observed on the 1 hour RSI.

The divergence has pushed the price action up, which currently seems to be printing new highs - a potential reversal into a strong Bullish Trend.

If the price action breaks out the 1.36652 level, the price could continue in an uptrend towards the 1.38012 level.

Trade Plan: Long
Entry: 1.36652
SL: 1.35973
TP1: 1.37333
TP2: 1.38012