USDCAD possible re-entry on retest of support
Last week I mentioned how the market has been consolidating between this range at 1.339 and 1.35 (marked by the blue rectangles).
I still believe that long term there will be more upside on USDCAD.
If we see more of a retracement i’ll be looking for another buy at the support side of the range.
Again i’ll be closely monitoring this pair and enter only if price action proves favourable.
This trade will be almost identical to the previous trade and will therefore provide a very good risk reward with targets being at the resistance side of the range and the stop loss being placed below the support side of the range.
The Trading Edge
I still believe that long term there will be more upside on USDCAD.
If we see more of a retracement i’ll be looking for another buy at the support side of the range.
Again i’ll be closely monitoring this pair and enter only if price action proves favourable.
This trade will be almost identical to the previous trade and will therefore provide a very good risk reward with targets being at the resistance side of the range and the stop loss being placed below the support side of the range.
The Trading Edge
