Trade idea - USDCAD short opportunity
Updated
USDCAD had been the strongest currency most of the month of August 2021.
The next strong resistances are 1.2925 and 1.3025.
Currently trading at 1.2825, the pair has shaken most of the CAD bulls going from 1.2625 to almost 200 pips USD gain against the CAD.
We like the idea of a long CAD against USD and expect the price to go back to 1.26 levels.
Month end of August will be crucial for USDCAD traders.
The next strong resistances are 1.2925 and 1.3025.
Currently trading at 1.2825, the pair has shaken most of the CAD bulls going from 1.2625 to almost 200 pips USD gain against the CAD.
We like the idea of a long CAD against USD and expect the price to go back to 1.26 levels.
Month end of August will be crucial for USDCAD traders.
Trade active
50% positions offloaded and 50% positions still running.Note
Offloaded at 1.2773Trade closed manually
All positions closed at 1.2670.
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