There was a clear downtrend on USDCAD which may have broken out, thus confirming there is potential for a bull run to occur to the above mentioned take profit level.
*NOT FINANCIAL ADVISE* MERELY AN OPINION.
It is evident from the chart there is a breakout of a descending channel, and to confirm this breakout consolidation has occurred above the trend line and a bullish divergence on 3 hour time frame has formed. Therefore potentially allowing for a good R:R trade like all the other ideas i have previously posted.
*NOT FINANCIAL ADVISE* MERELY AN OPINION
Evidently there has been a breakout of a channel which could allow for a potential long trade with a good R:R. Also there seems to be a bearish engulfing candle on the 4 hour time frame at a supposedly strong zone, but unlike previous rejections at that zone, the momentum to the down side is not as strong which may be confirming the bullish bias.