USD/CAD currency pair formed a flag pattern in the period August 5 - September 20 at the congestion zone 0.9749-0.9970 then we had a very bullish breakout on September 21.
The strong breakout bullish candlestick indicates strength of the bulls at this junction of the chart.
Then we had a demand zone between 1.0148-1.0287 where the bulls showed there presence.
Then we had a strong momentum to the upside indicating the bullish sentiment of the market.
Although the pair managed to have daily closure below our key-zone 1.0148-1.0287, it came back very quickly in Yesterday's daily candlestick & couldn't remain any time below 61.8% Fibonacci level marked on the chart creating a very bullish daily candlestick.



On the 4H chart, We have the pair trending donwn inside a narrow bearish channel with its upper limit at 1.0250.
The bullish reaction of the pair towards our 61.8% Fibonacci level is apparent in the successive long bullish 4H candlesticks.
Bullish breakout of the marked channel and 4H closure above 1.0250 indicates continuation of the upside movement.
Also if the price makes some retracement to the dowside, 1.0145 is a good long entry price level as it's the lower limit of the demand zone.
Profits should be taken at 1.0280, 1.0345, 1.0425 & SL should be 4H closure below 1.0140.

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