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jamison_fx
Oct 10, 2022 11:32 AM

USDCAD WIN WIN / HEDGING SHORTS  Short

U.S. Dollar/Canadian DollarFXCM

Description

Price on USDCAD is struggling to break above the resistance of 1.38000, with price looking weak again on the forth rejection. This is creating a right shoulder for a head and shoulders on the 4hr and daily chart. Strength coming back into the USD but the Canadian dollar holding ground for now. Ill be entering shorts with stops tight above the last few rejections to hedge against my original long trade. Hope you all the best for the week to come! let me know your thoughts.
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