It's kinda obvious for me that the USD will dominate CAD during the following months. With the increasing probability of 4 rate hikes from the FED and sluggish oil prices, I see nothing but weakness from CAD.
Long term trendline approching, placed short entry at 1.32, SL at 1.33, TP at 1.28 (old resistance now found as support).
Since the long term trendline could be pierced without significant resistance, I also placed a buy entry at 1.33 (with TP @ 1.38)
Happy trading !
Trade chiuso: obiettivo raggiunto
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Target reached (yay !) Need to break above 1.315 Should not be a problem in my opinion but it could takes some time (1 week ?). Got 2 buy entries, 1 @ 1.28 and 1 @1.312
Commento
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Re-opened LONG @1.2910. Target 1 : 1.30 If clearly broken ; Target 2 : 1.32
Commento
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Re-opened LONG @1.32 Target 1 : 1.325 If clearly broken ; Target 2 : 1.335