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USD/CAD Trade Idea

USD/CAD has retreated till 1.3550 and slightly recovered from that level. It is currently trading around 1.3600. Intraday trend is slight bullish as long as support 1.3550 holds. Any break below 1.3550 (9 day 4 H EMA) wi…

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USD/CAD Trade Idea
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USD/CAD has retreated till 1.3550 and slightly recovered from that level. It is currently trading around 1.3600.

  • Intraday trend is slight bullish as long as support 1.3550 holds. Any break below 1.3550 (9 day 4 H EMA) will drag the pair further down till 1.3500/1.3458.
     
  • On higher side major resistance is around 1.36225 and any break above will take the pair till 1.3651/1.3668
     
  • Overall bullish invalidation only below 1.3400.

It is good to buy at dips around 1.3590 with SL around 1.3545 for the TP of 1.3668/1.3700

R1-1.36225

 R2-1.3668

R3-1.3700

Support

S1- 1.3545

S2-1.3500

S3-1.3450

 

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