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Usdcaddaily

USDCAD LongThe price has been a bullish trend for the last few days, reached 1.38 then bounced back, testing the zone again and bouncing back, and now it is testing the zone for the third time. This has resulted in forming a cup and handle formation which might be an indicator that the price might continue with the bullish momentum. This will only happen if the price breaks out of the resistance zone. According to the client sentiment, around 70% of traders expect bearish momentum thus I expect the price to move opposite their expectations. I am anticipating the price will break out of the zone, then retest it so that we place our trade @ 1.38 My target is 1.40, Sl @ 1.373 and entry @ 1.38 The R: R is 1: 2.7 Remember, risk 1 - 2% of your account.
Long
by Vapari_Inc
2
USDCAD - FUNDAMENTAS WITH TECHNICAL LEVELS#USDCAD USDCAD is going up quite a bit right now. The reason for that is that OIL is slightly DOWN and the US CPI DATA is very good. So now USD has become very STRONG. SENTIMENT related to USD became WEAK in recent days. But now with good DEMAND for US YEILD, USD is moving UP. Due to this reason, STOCKS can continue to move DOWN SIDE if the USD goes up like this. Right now, the USDCAD market is BUYing very well towards the UP due to US DATA and UPDATES being POSITIVE. We think it will go up to the 1.3320 level before going down again with the MARKET RISK OFF SENTIMENT. Somehow USDCAD will likely get SELL up to 1.2879 LEVEL. We wait until the DOWNSIDE TREND CONTINUES. FOLLOW THE STRUCTURE GIVEN.
by benny_marshall