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Usdcadtrade

USDCAD bouncing nicely, remain bullishBuy above 1.3221. Stop loss at 1.3154. Take profit at 1.3387. Reason for the trading strategy (technically): Price has bounced off nicely from our buying area yesterday. We remain bullish above 1.3221 support (horizontal swing low support, horizontal overlap support, fake bearish breakout) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (89,5,3) is seeing strong support above 0.18% where we’re starting to see a nice bounce up from.
Long
by MEX_Exchange
USDCAD testing major support, remain bullishBuy above 1.3221. Stop loss at 1.3154. Take profit at 1.3387. Reason for the trading strategy (technically): Price continues to drop strongly and seems to have turned a corner recently. We remain bullish above 1.3221 support (horizontal swing low support, horizontal overlap support, fake bearish breakout) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). Stochastic (55,5,3) is seeing strong support above 0.18% where we’re starting to see a nice bounce up from.
Long
by MEX_Exchange
USDCAD profit target reached perfectly again, prepare to buyBuy above 1.3288. Stop loss at 1.3251. Take profit at 1.3387. Reason for the trading strategy (technically): Price has dropped perfectly and reached our profit target on USDCAD once again for the third time in a row. We prepare to buy above 1.3288 support (Fibonacci retracement, Fibonacci extension, Elliott wave theory) for a corrective bounce up to 1.3387 resistance (Fibonacci retracement, horizontal pullback resistance). RSI (34) is testing out 39% support and we expect a bounce soon.
Long
by MEX_Exchange
USDCAD profit target reached perfectly, remain bearish Sell below 1.3485. Stop loss at 1.3551. Take profit at 1.3387. Reason for the trading strategy (technically): Price has dropped perfectly from our selling area and has reached our profit target. We prepare to sell further below 1.3485 resistance (Fibonacci retracement, horizontal pullback resistance) for a further push down to 1.3387 support (Fibonacci extension, horizontal swing low support). RSI (34) is holding really well below our 55% resistance and has good downside potential for our drop.
Short
by MEX_Exchange