USDCAD long term the pair still have a leg down towards test below 1.20, The USD/CAD fell close to 1400 pips from the May 2017 highs into the July lows,On Wednesday, September 6, the Bank of Canada increased its benchmark interest rate to 1%. Following the announcement of this news, the USD/CAD moved lower, Along with USDCAD the U.S. Dollar Index (DXY) has also continued to move lower. But currently DAX is made some support by which we can some retracement , if we see DAX retracement we believe USDCAD will also retrace towards test his resistance around 1.2268/1.2316 and then we can see another fall of USDCAD. We have two trades here.
BUY USDCAD
@1.2175/1.2150
Target: 1.2250/1.2300
Stoploss: 1.2112
Alternatative
Sell USDCAD
@1.2300/1.2350
Target: 1.2100
Stop loss: 1.2400
gud luck
#forextuitions.
BUY USDCAD
@1.2175/1.2150
Target: 1.2250/1.2300
Stoploss: 1.2112
Alternatative
Sell USDCAD
@1.2300/1.2350
Target: 1.2100
Stop loss: 1.2400
gud luck
#forextuitions.
Trade closed: target reached
As expected target hit
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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.
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.