USDCAD D.png

USDCAD featured a textbook break and retest of a downtrend in place since May-17. A negative for this trade setup in my view was the D200 however the general price pattern in place with higher lows and higher highs combined with a break and retest of the trendline pattern outweighed that negative.

USDCAD 4H.png

We can see in the 4H price coming back down to test the trend line combined with the 4H50 which added another confluence factor for the trade. The target of 1.29 was reached quicker than I had anticipated but i’ll take that.

Posted in FX

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