USDCAD / H4 / Daily Forex Technical Analysis / 7.23.2019
Updated
Hello Traders, welcome to the Daily Forex technical analysis. Today is July 23rd, 2019 and we will be taking a look at the U.S. Dollar against the Canadian Dollar. Looking at the 4 hour time frame we are looking for price action to reach the 1.31 key resistance area for a loss in momentum and possibly an opportunity to find a profitable short. Entry for a Short position near the 1.31623 area, with a Stop Loss near the 1.32073 zone, with a target profit level area of 1.30697 could ensure a profitable trade with a 2.06 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!
Note
Target profit level area is 1.30697 not 1.31554 sorry! For the green dialog box on display!
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.