The USD/CAD has been in a rotational phase near the 1.3000 handle for the last five days. Early session bullish pressure looks to test the valid Swing Highs of 1.3051 and 1.3067. Here is the short trade setup:
1) Entry: Sell 1.3049
2) Stop Loss: 1.3076
3) Profit Target: 1.3022
4) Risk Vs Reward: 1:1
This trade has a solid chance of hitting the profit target on a retrace toward the 1.3000 handle. Be on the lookout for trending WTI pricing and further news items on the U.S./Canada trade war.
1) Entry: Sell 1.3049
2) Stop Loss: 1.3076
3) Profit Target: 1.3022
4) Risk Vs Reward: 1:1
This trade has a solid chance of hitting the profit target on a retrace toward the 1.3000 handle. Be on the lookout for trending WTI pricing and further news items on the U.S./Canada trade war.