USDCAD D1 ChartUSDCAD.Daily 20170811Price has recently broken a 14-month low and is in the midst of a major retracement, expecting the price to reach FR38.2% and a previous major support turned resistance level.

USDCAD.H1 20170811In H1 chart, the price is seen trending upwards and is using the top of a previous rising trend channel as a support to rebound higher and higher. Thus, price is now retracing again and may reach the top of the channel again before resuming appreciation.

USDCAD.M15 20170811So lastly, all we need to do is to wait for the price to complete another one or two waves of retracement and look for buy opportunity within the highlighted zone, setting our stop loss below FR100%.