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Pjorge89
Jul 27, 2016 8:37 PM

Short on USDCAD Short

FX:USDCAD1D
U.S. Dollar/Canadian DollarFXCM

Description

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Overall we are bearish on USDCAD. After the FOMC statement there was a big rejection of the monthly level ~1.325.
Due to this it has also formed a double top if zoomed out from highs from March. I am already short with target levels as indicated. If we close strong above monthly level, analysis is invalidated.

Risk Reward

1st Target: : ~1:2
2nd Target: ~1:10
3rd Target: ~1:13.5

-Best Regards and safe trading

Comment

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Another confluence leading to my entry is on the hourly we can see clearly see a triple top/rejection of the level.

Comment

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Target one smashed . Will be expecting small rallies . Target two should be next

Comment

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Target two smashed .
Target 3 in route .
Bearish PatternsshortUSDCADUSDCADfxForexDXYFOMC
Comments
Pjorge89
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1st Target hit
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