We are looking at USD/CAD (4h timeframe). What we are waiting for is break to the upside and then trend continiuation. We will entry around 1.3160 area. Profit will be taken at 1.340 and stop loss is placed at 1.3050!
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USD/JPY is trading in a range. What we want to see is breakout to either direction, but since MACD is making lower highs we favor break to the downside also 110 is a round number and therefore huge resistance level for us.
1. If we get a break to the downside our profit taking area will be between 106.50 and ...