Vitezabraham

USDCAD Long and Important Levels

Long
OANDA:USDCAD   U.S. Dollar / Canadian Dollar
Hello Traders!

If risk sentiment continues to lead more to risk off then oil prices would drop, Canadas biggest export is oil and considered to be high beta currency which favours buyers when there's risk appetite.

I recommend to place a trade when it breaks out from this range either side would offer a trade setup.
As price is pretty overextended to short side I prefer go long if momentum and sentiment is in that side.

Enter around 1.213 above the last top and the brea of the range.

Stop levels and Take Profit levels should be considered as important technical levels.

I prefer multiple positions with different take profits to lower risk.

Hope you had a great trading day have a look at my profile, comment, like, follow and more trades to come.

Best wishes!
Vitez

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