It is clear that we have a confirmed Kumo break out.
Based on the Ichimoku components we have all we
need to form a long bias for this pair
for the time being.
If we examine closely the Ichimoku components
we can observe that the tekan sen and the kijun sen seem to be in a bullish
formation and their direction indicates the same .
These important lines give us another significant
clue which is the fact that they are above the cloud as well.
The confirmation comes from the chikou span
line which is above the cloud and the price as well.
Now to be able to spot any potential developing
signals the price needs to bounce on the tekan sen level.
USD/CAD Daily Chart
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