Strifor || USDCAD-08/05/2024
Preferred direction: SELL
Comment: For the USDCAD currency pair, we continue to adhere to the priority of sales. In our final trading idea for this instrument, we identified two scenarios where one of the selling options was the level of 1.37600. The price is at this level now. A fall near this level is more likely today (scenario №1), since there is local trend resistance here, which pushes the price towards the support level 1.36557.
We also highlight scenario №2 on the chart. Here, the short is planned from the level of 1.38000.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
Comment: For the USDCAD currency pair, we continue to adhere to the priority of sales. In our final trading idea for this instrument, we identified two scenarios where one of the selling options was the level of 1.37600. The price is at this level now. A fall near this level is more likely today (scenario №1), since there is local trend resistance here, which pushes the price towards the support level 1.36557.
We also highlight scenario №2 on the chart. Here, the short is planned from the level of 1.38000.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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