Forextuitions

Long USDCAD & Short USDCAD

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD long term the pair still have a leg down towards test below 1.20, The USD/CAD fell close to 1400 pips from the May 2017 highs into the July lows,On Wednesday, September 6, the Bank of Canada increased its benchmark interest rate to 1%. Following the announcement of this news, the USD/CAD moved lower, Along with USDCAD the U.S. Dollar Index ( DXY ) has also continued to move lower. But currently DAX is made some support by which we can some retracement , if we see DAX retracement we believe USDCAD will also retrace towards test his resistance around 1.2268/1.2316 and then we can see another fall of USDCAD . We have two trades here.

BUY USDCAD

@1.2175/1.2150

Target: 1.2250/1.2300
Stoploss: 1.2112

Alternatative

Sell USDCAD

@1.2300/1.2350

Target: 1.2100
Stop loss: 1.2400

gud luck

#forextuitions.
Trade closed: target reached: As expected target hit

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