USD CAD (usdcad) is retracing down...

FX:USDCAD   U.S. Dollar / Canadian Dollar
36 0 2
Hi all,

Short this pair at current price of 1.33630 with an immediate target of 1.33000 SL of 1.34250 RR is 1:1.2.

Reason to short: price is retracing back for two days forming the resistant at 1.34250. Price will magnet to its 20 sma and previous resistant level of 1.32900. However, it's a good idea to exit a bit early if you are trading in one lot. If you have multiple lot exit your half position at target 1 and trail rest with break even SL.

Happy trading keep trailing.

Comment: The SL given on daily closing basis is still intact. The target should be achieved by today today !!!
Comment: AS said yesterday, target was achieved.

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