USDCAD: possible long opportunity
USDCAD is breaking the trendline formed since the beginning of this week.
On the chart you can see some support/resistance areas + RSI divergence + price above all moving averages and not too far away...
Stocks and oil are under pressure, thus risk-off is favorable for USD bulls.
Another USD long already opened.
Entering the position around 1.3560 (current level) with 1.3780 T/P and 1.35 S/L provides decent R:R=3.
Wait for confirmation and relevant price action on the lower time-frame before entering the position.
//
Make your own analysis before entering position.
Feel free to share your opinion/position via comment and follow me to stay updated + support my work by hitting like.)
On the chart you can see some support/resistance areas + RSI divergence + price above all moving averages and not too far away...
Stocks and oil are under pressure, thus risk-off is favorable for USD bulls.
Another USD long already opened.
Entering the position around 1.3560 (current level) with 1.3780 T/P and 1.35 S/L provides decent R:R=3.
Wait for confirmation and relevant price action on the lower time-frame before entering the position.
//
Make your own analysis before entering position.
Feel free to share your opinion/position via comment and follow me to stay updated + support my work by hitting like.)
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.