USDCAD Long
Long USDCAD @ 1.3060
70 pip SL @ 1.2990 (trade invalidated and look to short if close below 1.3000)
210 pip TP @ 1.3270 (top of daily wedge)
* USOIL currently toppish at 61.80 with potential to fall back to 58.00, validating trade setup. Trade invalidated if USOIL closes above 63.50.
* DXY currently testing bottom of multi-month channel. Likely to retrace back to 97.50-98.00. Trade invalidated if DXY closes below channel (96.00) or below 200W MA at 95.70.
70 pip SL @ 1.2990 (trade invalidated and look to short if close below 1.3000)
210 pip TP @ 1.3270 (top of daily wedge)
* USOIL currently toppish at 61.80 with potential to fall back to 58.00, validating trade setup. Trade invalidated if USOIL closes above 63.50.
* DXY currently testing bottom of multi-month channel. Likely to retrace back to 97.50-98.00. Trade invalidated if DXY closes below channel (96.00) or below 200W MA at 95.70.
Note
USD/CAD: Bulls and bears jostle with trade/political news near two-month low - USD/CAD shows a lack of momentum near the multi-week bottom.
- Mixed clues concerning that US-China trade, the tension in the Middle East fail to provide any direction to the pair.
- US activity and housing data can offer intermediate moves ahead of Tuesday’s China PMI.
fxstreet.com/currencies/usdcad?utm_source=tco&utm_medium=twitter&utm_term=&utm_content=&utm_campaign=fxstreetnews
Trade closed: stop reached
Trade invalidated (close below 1.300)
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