See daily chart of USDCAD below for the discussion that follows.
USDCAD broke a recent area of resistance and out of a short consolidation, suggesting a resumption of of its previous uptrend. I will will be looking to go long if price retraces to support (prior resistance) and I see bullish candlestick price action.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.