USD/CAD is close to a be an Uptrend pair.
Hey, I am back with another Forex idea, this time looking at USD/CAD.
Price of USD/CAD has broken a major level of 1.32400 by a full 4H candlestick and has currently formed a bull flag, but with a bearish shooting star candlestick.
The 20 and 50 EMA's are already giving a uptrend signal, but 200 and 50 EMA's are about to cross, if the price remains above 1.32400.
The cross of 50 and 200 EMA would give a us a bullish signal called golden cross, that would mean, to go with the trend in this pair, you should long it.
By looking at few time frames, it looks like USDCAD will go and retest 1.32400 or uptrend, and then go for a test of key resistance level 1.34320.
Good luck with this trade!
Tibor
Price of USD/CAD has broken a major level of 1.32400 by a full 4H candlestick and has currently formed a bull flag, but with a bearish shooting star candlestick.
The 20 and 50 EMA's are already giving a uptrend signal, but 200 and 50 EMA's are about to cross, if the price remains above 1.32400.
The cross of 50 and 200 EMA would give a us a bullish signal called golden cross, that would mean, to go with the trend in this pair, you should long it.
By looking at few time frames, it looks like USDCAD will go and retest 1.32400 or uptrend, and then go for a test of key resistance level 1.34320.
Good luck with this trade!
Tibor
Trade closed: target reached:
Take profit hit! +39 pips
