Although DXY has been losing its grip keeping the USD weak across the board, USDCAD price action looks overextended, where a healthy correction might occur, giving the trade setup for a buy-stop entry.
A bullish divergence with MACD gives the edge to place the long entry, with enough room to target an R:R | 1:2, S/L: 52 pips. The target T/P right at the Fibonacci level 6.18 for a friendly confluence zone.
A bullish divergence with MACD gives the edge to place the long entry, with enough room to target an R:R | 1:2, S/L: 52 pips. The target T/P right at the Fibonacci level 6.18 for a friendly confluence zone.
Order cancelled
Trade wasn't triggered, trade cancelled.
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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.