USDCAD MARKET ANALYSIS

Good evening traders, it's another great Thursday with opportunities in the markets after multiple targets from our previous trades got hit. Into the markets today I am looking at USDCAD where price dropped into a major H4 & daily demand zone at 1.34712 & 1.34400 filling the major daily range. Price dropped into the major H4 & daily demand and formed multiple candle closes inside demand followed by a bullish push to 1.34800. Price then retraced back into the demand zone and formed candle closes inside demand followed by a bullish push out of demand. Took buy positions during NY session at 1.34619 with SL at 1.34300. Setup taken is a drop base rally, a reversal setup and my 1st target is at 1.35800 and my major target at 1.36170 which is the next major H4 & daily supply zone and also the origin of the previous major drop. 

Price rallied out of demand by a constant push away from demand forming higher highs on H1 & H4 at 1.35050 with candle closes above demand. Price retraced to retest demand  at 1.34700 before a potential continuation of the rally higher. Price gained more bullish momentum, taking out the previous H1 & H4 high at 1.35050 and rallying higher showing a shift in market structure to bullish. Price rallied 110 pips to 1.35600 missing my first target of 1.35800 by 20 pips after which price dropped back to 1.35040.