USD/CAD Signal Update
Yesterday’s signals expired without being triggered.
Today’s USD/CAD Signals
Risk 0.75% per trade.
Trades may be entered between 8am London time and 5pm New York time today only.
Long Trade 1
* Long entry following a bullish price reversal upon the next entry into the supportive zone from 1.3550 to 1.3416.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 2
* Long entry following a bullish price reversal upon the next entry into the supportive zone from 1.3435 to 1.3524.
* Place the stop loss 1 pip below the local swing low.
* Adjust the stop loss to break even once the trade is 20 pips in profit.
* Remove 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
USD/CAD Analysis
Yesterday this pair followed through with its strong upwards move of the day before, making another new 11 year high. The price has pulled back but we seem to have already had a bounce up close to 1.3550. Even if we fall back down into the zone below there, it could still be strongly supportive. The best of this leg may well be behind us but this pair is still quite likely to be the best pair in the Forex market today on the long side.
There is nothing due today regarding the USD or the CAD.