USDCAD Idea
Updated
I'm really interesting in USDCAD pair right now.
I set a long position and here is why.
The US Dollar strength.
After the previous week NFP release we see a strength on the US Dollar. US Dollar was in low level five months in a row, right now it's time to move higher as US economy seems to rise.
Canadian Home Prices
As referred in Bloomberg https://www.bloomberg.com/news/articles/2017-08-03/toronto-home-prices-in-record-monthly-drop-as-sales-plunge toronto home prices suffer worst monthly decline in 17 years. This is a strong new that anyone could ignore for the next weeks in Canadian Market.
Order Book
Let's take a look at Oanda Order book (http://imgur.com/pSIy5gP) this give us a different perspective!
I'm waiting to grab 20 pips from this trade.
NEVER RISK MORE THAN 2% OF YOUR CAPITAL.
I set a long position and here is why.
The US Dollar strength.
After the previous week NFP release we see a strength on the US Dollar. US Dollar was in low level five months in a row, right now it's time to move higher as US economy seems to rise.
Canadian Home Prices
As referred in Bloomberg https://www.bloomberg.com/news/articles/2017-08-03/toronto-home-prices-in-record-monthly-drop-as-sales-plunge toronto home prices suffer worst monthly decline in 17 years. This is a strong new that anyone could ignore for the next weeks in Canadian Market.
Order Book
Let's take a look at Oanda Order book (http://imgur.com/pSIy5gP) this give us a different perspective!
I'm waiting to grab 20 pips from this trade.
NEVER RISK MORE THAN 2% OF YOUR CAPITAL.
Note
More than half way !Low risk but a big reward.
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