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quantumiotraders

USDCAD MWR LONG TRADE IDEA

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
quantumiotraders Updated   
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis
1
0
trendanalysis
#USDCAD
BUY @1.3304
STOP @1.3343
TARGET @1.3500
R/R 4.4 for 1

COMMENTS
The CAD has extended to the downside doe 3 days in a row and broke the MAR creating a false trend at the beginning of the week. Currently, it's trading at the zone of support with DIV and a W pattern. Price breaking trendline giving a conservative entry.
Comment:
Correction in stop loss at 1.3243
Comment:
Price is heading to the next zone of support between 1.3220 to 1.3213. We are looking to reenter after price gets to that area.
Comment:
After fundie, price has done a spike from the zone of support. Weekly ATR is completed and price has closed a CAR. Look to reenter at market price with SL below the wick at 1.3173
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