Nico.Muselle
Short

USDCAD - a shift in trend ?

FX:USDCAD   U.S. Dollar / Canadian Dollar
2604 29 77
This pair has been very bullish for over a year now if you look at the daily chart . What I am looking for here is a small relief from the recent uptrend, supported by the OIL             price rising again. As you all probably know, the CAD is heavily influenced by the price of OIL             .

On the 4h chart, I am looking for a little rally into previous structure from where we could re-test the most recent lows again. This offers a nice R:R ratio of 2:1. Possible extended target could be around 1.34 area.

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Constructive comments are always welcome !
Trade active: We had to wait for it for a while, but now this trade is active
Comment: Target hit : I took off 50% of the position, moved the stop loss well in profit and will let this trade run with a target of 1.3405
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Excellent Trade! Big props man.
+1 Reply
Thanks a lot for your support, this indeed was an great and painless trading opportunity. )
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Nice, looking at the same area over here
+1 Reply
Excellent ... it was a long wait before we reached this level .. What target are you aiming for ?
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Akil_Stokes PRO Nico.Muselle
I'd be looking for a retest of previous support followed by an extension to 1.34's
+1 Reply
Glad to see we're on the same page ! Eyeballing same targets here :)
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Can we see 1.34 area ???
+1 Reply
Nico.Muselle MOD pathaniasourabh
Initially I am aiming for a re-test of the previous lows ... If that level breaks the next support level is around 1.33
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This has already started to go down. Have you already made your move?
+1 Reply
Patience rewarded, my entry got filled today ... let's see now where it will take us :)
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