USDCAD - a shift in trend ?
Updated
This pair has been very bullish for over a year now if you look at the daily chart. What I am looking for here is a small relief from the recent uptrend, supported by the OIL price rising again. As you all probably know, the CAD is heavily influenced by the price of OIL.
On the 4h chart, I am looking for a little rally into previous structure from where we could re-test the most recent lows again. This offers a nice R:R ratio of 2:1. Possible extended target could be around 1.34 area.
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On the 4h chart, I am looking for a little rally into previous structure from where we could re-test the most recent lows again. This offers a nice R:R ratio of 2:1. Possible extended target could be around 1.34 area.
Thank you for clicking that "thumbs up" button and don't forget to follow me if you want to receive the latest updates on this idea and new ideas.
Constructive comments are always welcome !
Trade active
We had to wait for it for a while, but now this trade is activeNote
Target hit : I took off 50% of the position, moved the stop loss well in profit and will let this trade run with a target of 1.3405
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Twitter: twitter.com/NicoMuselle
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