USDCAD just reached former resistance level and the top of the rising channel/trend line simultaneously. If it won't break them, it'll be good opportunity for taking short position. Entry level 1.33300, first target 1.31, second target 1.2970. SL @1.3410. You can just put your position (if you have good equity) or wait for reversal pattern on lower TF. Be aware of incoming news publication of high impact in 3-4 hours. Good luck.
Trade active
1.33300 was hit just after the US & Canada news release. USDCAD is falling now, you can set your SL to BE if you wish, but 1.33300 can be hit tomorrow once again.Note
As predicted, USDCAD hit 1.333 once again and now it's falling. It should go straight to the first target, except if any further OPEC decisions will be published or something else happens. If you don't want to risk your money, take your profit and enjoy it. Have a good weekend.Trade closed: target reached
First target has been reached. I'm closing half of my positions and set Trailing Stop Loss 150 pips above the current price to remaining ones. I will no longer update this trade. Enjoy your profit and have a good weekend. Good luck.
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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.