USDCAD - Heading South?

Short

U.S. Dollar / Canadian Dollar (FX:USDCAD)

Updated

FX:USDCAD U.S. Dollar / Canadian Dollar

USDCAD has been in the downtrend channel for the past few months.

The price retraced and resisted at the 0.236 Fibo Level.

Lazy Trend identified a bearish momentum signal.

Immediate support is at 1.24

Comment:

The trade has locked in 150 pips.

Stop loss at 1.2420

Comment:

Stop loss move to 1.2260

Lock in 310pips profits

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.