USDCAD LONG
Looking at the charts, we are below the 200 EMA.
The nearest supply zone is 1.3130, while the trend line is at 1.3183, which is close to the supply zones.
I am seeing price refuse to close below the rising trend line which signals a long position targeting previous highs.
You can set your SL below 1.3080, targetting 1.3402 ( Previous highs)
This will give 1:2.5 profit ratio
Rising tensions with iran gave CAD a boost.
Looking for those tensions to be eased and CAD to drop.
The nearest supply zone is 1.3130, while the trend line is at 1.3183, which is close to the supply zones.
I am seeing price refuse to close below the rising trend line which signals a long position targeting previous highs.
You can set your SL below 1.3080, targetting 1.3402 ( Previous highs)
This will give 1:2.5 profit ratio
Rising tensions with iran gave CAD a boost.
Looking for those tensions to be eased and CAD to drop.
Penafian
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