USDCAD 325pip LONG

Hello Traders,

Here we have a USDCAD long trade idea. If you like this idea please show your support!

This trade idea is based off the fact of the USD reaching a weekly low and we can see some resistance beginning to occur. Also the Canadian Dollar is reaching its peak combined with oil prices maxing out. This has given us a lovely zone of interest for a entry on this pair.

We have 2 zones of interest as we do not want to miss this entry however if we continue to see a weaker US Dollar scenario A will most likely play out

This trade has 2 TP zones

Take Profit 1 : 165 pips
Take Profit 2 : 325 pips
Stop Loss : 30 pips
Overall RISK:REWARD : 10.83

Wondering why CAD and OIL have such a similar reaction? Check out my post on correlation below

Trade active:

Trade active, we are monitoring trade as the price is approaching the structure line and we are looking for a break!