Get started
Forextuitions

Long USDCAD & Short USDCAD

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Forextuitions Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns USDCAD usdcadshort usdcadforecast usdcadlong lalitmatta forextuitions
3
0
trendanalysis chartpattern usdcad usdcadshort usdcadforecast usdcadlong lalitmatta forextuitions
USDCAD long term the pair still have a leg down towards test below 1.20, The USD/CAD fell close to 1400 pips from the May 2017 highs into the July lows,On Wednesday, September 6, the Bank of Canada increased its benchmark interest rate to 1%. Following the announcement of this news, the USD/CAD moved lower, Along with USDCAD the U.S. Dollar Index (DXY) has also continued to move lower. But currently DAX is made some support by which we can some retracement , if we see DAX retracement we believe USDCAD will also retrace towards test his resistance around 1.2268/1.2316 and then we can see another fall of USDCAD. We have two trades here.

BUY USDCAD

@1.2175/1.2150

Target: 1.2250/1.2300
Stoploss: 1.2112

Alternatative

Sell USDCAD

@1.2300/1.2350

Target: 1.2100
Stop loss: 1.2400

gud luck

#forextuitions.
Trade closed: target reached:
As expected target hit
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.