The Forex Pattern, Price & Time Report – USD CAD Mid-Session

The USD CAD turned the Main Trend to up on the Daily Chart and is now in a position to challenge an important retracement level.

The USD CAD Main Trend is up on the Hourly Chart at the Mid-Session.

Earlier in the day, the Main Trend turned up on the Daily Chart on a trade through 1.1290.

Based on the current intra-day pattern, expectations are for this market to remain in an uptrend unless 1.1156 is violated.

Now that this pair has crossed a 50% level at 1.1298, look for the rally to continue to the .618 retracement level at 1.1419.