Last Thursday’s signals were not triggered as there was insufficiently bullish price action at 1.3433.
Today’s USD/CAD Signals
Risk 0.50% per trade.
Trades must be entered between 8am and 5pm New York time today only.
Long Trades
- Long entry after the next bullish price action rejection following a first touch of 1.3427.
- Place the stop loss 1 pip below the local swing low.
- Move the stop loss to break even once the trade is 20 pips in profit.
- Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
Short Trades
- Short entry after the next bearish price action rejection following a first touch of 1.3484 and 1.3542.
- Place the stop loss 1 pip above the local swing high.
- Move the stop loss to break even once the trade is 20 pips in profit.
- Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.
The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels.
USD/CAD Analysis
The price remains within a broad range centred upon an area just under 1.3500. Coupled with the total absence of any long-term trend, it suggests a major lack of direction, which means there may be chances to fade the range between 1.3484 and 
There is nothing due today concerning either the CAD or the USD.