Technicals show on the 1HR/ 4HR/ daily TF that USDCAD is at a makeshift resistance.
Loonie needs to correct itself at 1.2975 levels if not an impulse dip to 1.292 to shake out retail buyers who were late to the party.
WTI oil has also seen a support at $87 and is now looking to test the $97 resistance sector. (currently $91)
DXY is in no-mans land with the FED + turmoil within the US economy. DXY is also looking for a mini rollover.
I am taking a 1:5 RISK:REWARD trade
Entry: 1.30267
SL: 1.30450
TP:1.29250
(we could stop at 1.297* very well)
Loonie needs to correct itself at 1.2975 levels if not an impulse dip to 1.292 to shake out retail buyers who were late to the party.
WTI oil has also seen a support at $87 and is now looking to test the $97 resistance sector. (currently $91)
DXY is in no-mans land with the FED + turmoil within the US economy. DXY is also looking for a mini rollover.
I am taking a 1:5 RISK:REWARD trade
Entry: 1.30267
SL: 1.30450
TP:1.29250
(we could stop at 1.297* very well)
Trade closed manually:
I was closed out by a tight SL on my inital entry but i re-entered manually at 1.30384 and TP @ 1.29400