I'm considering a sell position on USDCAD at 1.365. Here's why:
Potential Canadian Dollar Strength:
There could be factors influencing a rise in the Canadian Dollar relative to the US Dollar. This might be due to strong economic data from Canada, rising oil prices (Canada being a major oil exporter), or a weakening US Dollar.
Entry Point:
1.365 could be a technically attractive level to enter a short position based on past price movements or technical indicators. (Do your own technical analysis to confirm this).
I have a limit order set risking 0.5% looking for 2.5% profit.
Entry: 1.365
Stop: 1.36596
Profit: 1.36014
Potential Canadian Dollar Strength:
There could be factors influencing a rise in the Canadian Dollar relative to the US Dollar. This might be due to strong economic data from Canada, rising oil prices (Canada being a major oil exporter), or a weakening US Dollar.
Entry Point:
1.365 could be a technically attractive level to enter a short position based on past price movements or technical indicators. (Do your own technical analysis to confirm this).
I have a limit order set risking 0.5% looking for 2.5% profit.
Entry: 1.365
Stop: 1.36596
Profit: 1.36014
Order cancelled
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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.