We sell this market that is technically overbought
We buy this market that is technically oversold.
We look to sell the break below 70.0 on a technical basis
We short the USD/CAD based on technical movements.
We look to short the currency pair based on the fact that is is technically overbought
The Market is technically overbought and rests at a key resistance level. Following significant move to the upside, we expect profit taking and a reversion to the moving average. The rally appears to be be based fundamentally on stimulus and is likely artificial and short lived. R:R 1:1.
We look to short the market at this resistance level
Market is approaching resistance level and we look to take a short position with TP1 at 1.7960 and TP2 at 1.7860. Obvious stop in the region of 1.8080