USDCAD closed today the session with a new higher low in the 1 hr timeframe
I copy and pasted the upper trendline as the one that defines the roof of the channel and I pasted it in the bottom of the graph creating now a new channel.
30 pip stop for a 100 pip gain, which means a great risk reward
If we break to the upside the target, we can see 1.2915 and after that 1.30
We have CAD fundamentals tomorrow which might be the push to the upside that we are looking for, combining it with the fallen OIL prices that we saw today.
Trade safe traders, regards! ;)
I copy and pasted the upper trendline as the one that defines the roof of the channel and I pasted it in the bottom of the graph creating now a new channel.
30 pip stop for a 100 pip gain, which means a great risk reward
If we break to the upside the target, we can see 1.2915 and after that 1.30
We have CAD fundamentals tomorrow which might be the push to the upside that we are looking for, combining it with the fallen OIL prices that we saw today.
Trade safe traders, regards! ;)
Comment:
Unemployment news were excellent for the CAD, stop loss hit