TomProTrader

USDCAD: Waiting For More Action Before Taking Positions! #Forex

FX:USDCAD   U.S. Dollar / Canadian Dollar
351 0 11
Friends,

I am currently in a downtrend trade and have taken 380 pips profit.

Been studying USDCAD             a long time. I am looking for the next key level to participate in this pair.

-If we see a bounce of the 50MA and a move down then expect longer term support to be the line to watch for entries
-For the alternative scenario, watch for the shorter term scenario.

In line with my trading rules, I will happily short at a bounce of the 50MA and down to the leg required. Whether in intraday trades, or bulk transactions. Whatever is appropriate.

Best of luck,
Tom
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