Hello Traders, welcome to the Daily Forex technical analysis. Today is April 23rd, 2019 and we will be taking a look at the U.S. Dollar against the Canadian dollar. Looking at the 1 hour time frame we can see price action has retraced back around to the 1.33631 area. Price action coming back to these levels coincides with the 50% fib retracement level and seeing a rejection here, we maybe getting another opportunity to set our selves up for a profitable short position. Entry for a Short position near the 1.33631 area, with a Stop Loss near the 1.33725 zone, could ensure a profitable trade with a 2.06 to 1 R/R. We are so thankful to have you tune in, please feel free to write a comment or leave feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.