Opening a long position on USD/CAD based on a bullish outlook for the U.S. dollar and potential Canadian dollar weakness. The pair has found strong support near [1.38500] and is showing bullish momentum with a break above [insert key resistance level], supported by rising moving averages and positive RSI/MACD crossover.
Entry: [1.38680]
Stop Loss: [1.38300]
Take Profit: [1.40000]
Risk/Reward Ratio: [1:3.5 R:R]
Timeframe: [4H / Daily]
Rationale: Strength in USD due to hawkish Fed stance, weaker oil prices pressuring CAD, and possible divergence in economic performance between U.S. and Canada.
Entry: [1.38680]
Stop Loss: [1.38300]
Take Profit: [1.40000]
Risk/Reward Ratio: [1:3.5 R:R]
Timeframe: [4H / Daily]
Rationale: Strength in USD due to hawkish Fed stance, weaker oil prices pressuring CAD, and possible divergence in economic performance between U.S. and Canada.
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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.