forexTrdr
Short

forexTrdr USDCAD OVERBOUGHT + RESISTANCE

FX:USDCAD   U.S. Dollar / Canadian Dollar
Morning,

Quick trade on US dollar Canadian dollar looking for a breakout lower back towards low 1.31 area into tomorrows Fed meeting where market is expecting a rate cut. Pair are looking overbought on hourly whilst we have had a serious of three lower highs and the psychological level 1.32 was tested as a spike/wick but failed to break higher or hold near.

Trading on a tight stop loss should this pair move higher and break out of lower highs pattern.

Clean, simple tight trade

Trade closed: target reached: Target hit ahead of the Fed meeting. Perfect timing and target point
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