I will scalp long USDCAD on a close above 1.2520 until another short play presents itself. I still hold short positions in this pair, but the dollar is looking to head up over the next few days and possibly into next week before turning south. USDCAD has presented itself for a possible long play if we can close above the recent daily high of 1.2520. This opens up the way to 1.26 and I will reevalute there. My stop is 1.2420 under the last H4 candles low. If we reject at 1.2520, then I will look to short as it won't have much upward momentum if we can't break that daily high. Cheers.
Trade closed: target reached:
Trade closed. Looking to add to shorts from these levels on USDCAD