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Usdcadidea

USDCAD short trade idea before NFP data releaseUSDCAD has been on a bullish trend for ten days while market participants waiting for the Non-Farm payroll data release, and currently, we are seeing price form a head and shoulders pattern. personally, I am still waiting for the price completely formed H&S pattern and the price to break out of the 1.27190 support level, it will confirm my sell setup for this pair. The downside target will be at 1.26050. be patience ;) **Disclaimer** the content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting traders to make independent investment decisions. Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Short
by GWBFX
1
USDCAD | Still Uptrend | Might get a Retracement.When it comes to the technical analysis of USDCAD, it is still in uptrend and likely to get at least 250 Pips to the upside. However, based on the current scenario, there is a good chance price might try to get a pull back before it move to the upside; which could be approximately 150 pips and it is a good short opportunity as well. But I don't recommend you to trade against the trend. If you are planning to go short, better place the stop above the R1. And also, if price breaks the below demand area don't go long. What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis. If you find this technical analysis useful, please like & share our ideas with the community. Good Luck! Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Long
by Maxproftrade
1