This is short term bias, but medium - long term I'm bearish USDCAD
. Currently, the USD has held a major level at the 200 ema
, channel floor, and support of around 12000. CAD alternatively is showing a bearish
signal across oil
, etc After todays pin bar
I am looking to buy at the break of the trendline/previous days high. I am targeting around 1.425-800 where there is a nice confluence of key fib level and previous resistance. I am getting 4:1+ risk/reward if this trade is entered and meets my profit target.