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Long

Day trading strategies on USDCAD 27-06-2016 by AzaForex

FX:USDCAD   U.S. Dollar/Canadian Dollar
27 0 1
Review these tips if you are an aspiring foreign exchange trader.
The referendum in the UK broke all the trends in almost all currency pairs in the Forex market . All more or less predictable trends on the chart were changed to no recognition. Technical analysis is not working on many markets for some time the psychology of traders and investors panic and can not be predictable in linear dimension. The currency pair US and Canadian dollar             is one of the few trading tools where the situation is clear. Shown to a moderate upward trend, which is now braced to resistance level 1.3100. In the currency pair there is all chances to pass this level and allow traders to earn about 100 pips. If the US dollar             , on the background of events in the world, will be strengthened, our recommendation will bring the desired results in our trading account

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend .
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
• Chart timeframe: H4
• The trade recommendation: Buy
• The level of entry into long position: 1.3100
• The level of profit and close the position: 1.3190 (90 pips)
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