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TheBankTrader
Feb 18, 2016 6:01 AM

Long on USDCAD  Long

U.S. Dollar/Canadian DollarFXCM

Description

We have bullish divergence on the hourly and price has found support. As we know price is fractal so we could see a repeat of movement in price as it happened the last time it was in this support area. We also see a decline in Crude which will help this long position. Canadian Dollar is effected by the movement of crude. On the Crude chart we see bearish divergence and price is hitting resistance. A fall in crude price could help our long position on the USDCAD.

Trade closed: stop reached

closed on BE.
Comments
TheBankTrader
Kathy Lien - Oil and CAD falling after Iran calls Saudi output freeze “ridiculous" -

This should take our trade to take profit!!!
TheBankTrader
Trade is moving p as planned. We have next support/resistance at 1.385 and 1.39089 which is our Take Profit.
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