USD/CAD snaps 5-day losing streak ahead of US PPI
Over the past 5 days, USD/CAD has retraced -1.7%. And each day saw a loss of bearish momentum. A small bullish engulfing candle formed on Monday to snap the 5-day losing streak, and the fact it formed around the 50-day EMA and 61.8% Fibonacci level make it the more appealing for a bullish swing trade.
Bulls could target just below the 1.38 handle, with a stop just beneath last week's low. Or a stop could be placed below 1.37 for a more conservative reward to risk.
Bulls could target just below the 1.38 handle, with a stop just beneath last week's low. Or a stop could be placed below 1.37 for a more conservative reward to risk.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.