Sell USDCAD Breakout Pattern
Updated
The USD/CAD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined Channel pattern. This suggests a shift in momentum towards the downside in the coming Hours.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.3750, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.3708
2nd Support – 1.3670
Stop-Loss: To manage risk, place a stop-loss order above 1.3800. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Key Points:
Sell Entry: Consider entering a short position around the current price of 1.3750, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels:
1st Support – 1.3708
2nd Support – 1.3670
Stop-Loss: To manage risk, place a stop-loss order above 1.3800. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.
Thank you.
Trade active
Today Expecting High Movements :GBP - GDP & Trade Balance
EUR - German CPI
USD - CPI
Note
Trade closed: target reached
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