USD/CAD Signal Update
Yesterday’s signals were not triggered.
Today’s USD/CAD Signals
Risk 0.75% per trade.
Trades may only be entered between 8am London time and 5pm New York time today.
Long Trade 1
Go long after bullish price action on the H1 time frame following the next touch of 1.2751.
Place the stop loss 1 pip below the local swing low.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Short Trade 1
Go short after bearish price action on the H1 time frame following the next touch of 1.3133.
Place the stop loss 1 pip above the local swing high.
Adjust the stop loss to break even once the trade is 20 pips in profit.
Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
USD/CAD Analysis
The price found some support at 1.2840 yesterday before rising until it has almost reached a recent key swing high point of 1.2900. It now looks to have reached minor resistance and to be turning downwards again, so a resumption of the downwards move down to 1.2750 would not be a surprise. This is in line with a long-term downwards trend in this pair that continues.
There is nothing due concerning either the CAD or the USD.