Scalping Opportunity In The USD/CAD From Beneath 1.3200

FX:USDCAD   U.S. Dollar / Canadian Dollar
The recent slide in WTI pricing has not been kind to the Canadian dollar . However, last week’s hawkish move from the BoC has helped the Loonie hold its own against the USD.

Today's bullish pressure may bring a short from just beneath topside resistance near the 1.3200 handle into play. Here is the plan:

1)Entry: Sell 1.3196
2)Profit Target: 8-12 pips
3)Stop Loss: 8-12 pips, depending upon profit target
4)Risk Vs Reward Ratio: 1/1

The USD/CAD is trending higher on intraday timeframes as WTI crude falls beneath the $67.50 handle. A moderate profit target is the best idea against the intraday trend.


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