USDCAD: possible scenario
Updated
Hello Traders!
On the chart you can see my analysis of USDCAD pair...
…in my opinion 1.29930-1.31460 price zone should be considered as an opportunity to open long position, as this is the zone where buyers might show some demand interest.
Fundamentally speaking, yesterdays GDP numbers from China were worse than expected, risk-off on the equity markets and uncertainty regarding global oil demand should put some pressure on CAD against the greenback.
The first take-profit target can be around 1.33320 price.
//
Don't forget to follow your personal risk-management rules before opening position.
//
Make sure you follow me for more upcoming ideas and feel free to share your opinion via comment.
If you agree with my analysis support my work by hitting like.)
//
More info: link in bio ;)
Contact me if you have any questions.
//
Risk disclaimer:
This is not an investment advice and you should carefully consider whether trading is right for you in light of your particular circumstances and financial resources.
On the chart you can see my analysis of USDCAD pair...
…in my opinion 1.29930-1.31460 price zone should be considered as an opportunity to open long position, as this is the zone where buyers might show some demand interest.
Fundamentally speaking, yesterdays GDP numbers from China were worse than expected, risk-off on the equity markets and uncertainty regarding global oil demand should put some pressure on CAD against the greenback.
The first take-profit target can be around 1.33320 price.
//
Don't forget to follow your personal risk-management rules before opening position.
//
Make sure you follow me for more upcoming ideas and feel free to share your opinion via comment.
If you agree with my analysis support my work by hitting like.)
//
More info: link in bio ;)
Contact me if you have any questions.
//
Risk disclaimer:
This is not an investment advice and you should carefully consider whether trading is right for you in light of your particular circumstances and financial resources.
Trade closed: target reached
Congrats!
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.