I believe USD/CAD prices has got one more push to the long side before coming back down again, the bullish engulfing on the 0.5 fibo retracement level is a indication but just in case price wants to touch the 0.618 level to find support I would recommend placing sl below that level and below the trendline also. Take profit should be placed on the -0.27 fibo extension area because it matches with the overall bearish moves 0.618 fibonaci level where price can easily reverse and start heading bearish again.
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