USDCAD 1.41050 +0.4% LONG IDEA
Diupdate
GOOD DAY TRADERS
HERE'S AN IDEA ON THE USDCAD PAIR, PREVIOUS WEEK WAS A QUITE ONE FOR THE CANADIAN DOLLAR WITH THE NEWS AND DATA UPDATES..
EVEN THE BOUNCE BACK IN OIL PRICES HEADING INTO THE WEEKEND BRING MUCH VOLATILITY TO CAD.
> ON FRIDAY CAD PUSHED HIGHER AGAINST SOME PAIRS PROBABLY DUE TO SOME WEAK ECONOMIC UPDATES FROM CHINA, GERMANY AND THE U.S. PLUS THE U.S - CHINA SAGA
> USDCAD HAS BEEN TRADING IN AN ASCENDING CHANNEL ON THE 4H CHART LOOKING FOR THE PAIR TO PUSH HIGHER TO RETEST THE STRUCTURE AND POSSIBLY BREAK TO THE UPSIDE
TARGET 1 - 1.41713
TARGET 2 - 1.42302
RISK MANAGEMENT
PERIOD - DAY TRADE
HERE'S AN IDEA ON THE USDCAD PAIR, PREVIOUS WEEK WAS A QUITE ONE FOR THE CANADIAN DOLLAR WITH THE NEWS AND DATA UPDATES..
EVEN THE BOUNCE BACK IN OIL PRICES HEADING INTO THE WEEKEND BRING MUCH VOLATILITY TO CAD.
> ON FRIDAY CAD PUSHED HIGHER AGAINST SOME PAIRS PROBABLY DUE TO SOME WEAK ECONOMIC UPDATES FROM CHINA, GERMANY AND THE U.S. PLUS THE U.S - CHINA SAGA
> USDCAD HAS BEEN TRADING IN AN ASCENDING CHANNEL ON THE 4H CHART LOOKING FOR THE PAIR TO PUSH HIGHER TO RETEST THE STRUCTURE AND POSSIBLY BREAK TO THE UPSIDE
TARGET 1 - 1.41713
TARGET 2 - 1.42302
RISK MANAGEMENT
PERIOD - DAY TRADE
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