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USDCAD.1.CSM trade ideas

USDCAD stays directed towards 1.2480 key resistanceDespite failing to cross a convergence of the 200-SMA and a 50% Fibonacci retracement of June-August upside, the USDCAD pair remains above four-month-old horizontal support. Given the firmer RSI conditions, not overbought, the bullish momentum is likely to prevail for a while, which in turn can allow the pair buyers to cross the 1.2480 resistance confluence and challenge September’s low near 1.2495. Should the quote manage to cross the 1.2495 hurdle, also the 1.2500 threshold, the run-up to the 1.2600 round –figure can’t be ruled out. Alternatively, pullback moves may aim for the stated multi-day-old horizontal support near 1.2420, a break of which will direct the sellers towards a 61.8% Fibonacci retracement level of 1.2365. In a case where the USDCAD bears keep reins past 1.2365, October’s bottom surrounding 1.2285 will question further downside. To sump, the pair’s rebound has the momentum support and hence is capable of breaking the immediate barrier to the north.
Long
by MTradingGlobal
USDCAD Retracement LongLogic Prices tending to retrace upwards with good momentum All Levels Mentioned On Chart How to trade the setup? When the chart says Long or Short at particular level, Put a Stop Order at those levels, Levels are strict T1 : is Target 1 T2 : is Target 2 When you achieve your first target, book profits of 50% and shift the stops to the cost The term Catastrophe Stop, is a maximum movement of price that can happen in opposite direction of trade so that the setup remains valid, Its basically used, to give some breathing space to the trade, I may call for a recovery if the setup becomes invalid as the market progress. As we all know anything can happen in the market and we should respect that At Last, do your own analysis, before trading your money!
Long
by Ankit_1618