It's kinda obvious for me that the USD will dominate CAD during the following months.
With the increasing probability of 4 rate hikes from the FED and sluggish oil prices, I see nothing but weakness from CAD.
Long term trendline approching, placed short entry at 1.32, SL at 1.33, TP at 1.28 (old resistance now found as support).
Since the long term trendline could be pierced without significant resistance, I also placed a buy entry at 1.33 (with TP @ 1.38)
Happy trading !
With the increasing probability of 4 rate hikes from the FED and sluggish oil prices, I see nothing but weakness from CAD.
Long term trendline approching, placed short entry at 1.32, SL at 1.33, TP at 1.28 (old resistance now found as support).
Since the long term trendline could be pierced without significant resistance, I also placed a buy entry at 1.33 (with TP @ 1.38)
Happy trading !
Trade closed: target reached:
Target reached (yay !)
Need to break above 1.315
Should not be a problem in my opinion but it could takes some time (1 week ?).
Got 2 buy entries, 1 @ 1.28 and 1 @1.312
Need to break above 1.315
Should not be a problem in my opinion but it could takes some time (1 week ?).
Got 2 buy entries, 1 @ 1.28 and 1 @1.312
Comment:
Re-opened LONG @1.32
Target 1 : 1.325
If clearly broken ;
Target 2 : 1.335
Target 1 : 1.325
If clearly broken ;
Target 2 : 1.335
Target 1 : 1.30
If clearly broken ;
Target 2 : 1.32