Technical Analysis Free Forex Signals USD/CAD Forex Signal USD/CAD Forex Signal Wednesday, 26 December 2018 11:15 Share 0 Tweet 0 Pin it 0 +1 Last Monday’s signals were not triggered, as the price never quite reached 1.3563. Today’s USD/CAD Signals Risk 0.75% per trade. Trades may only be entered between 8am New York time and 5pm London time today. Short Trades Short entry after the next bearish price action rejection following the next touch of 1.3620 or 1.3650. Put the stop loss 1 pip above the local swing high. Move 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 run. Long Trades Long entry after the next bullish price action rejection following the next touch of 1.3565 or 1.3529. Put the stop loss 1 pip below the local swing low. Move 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 run. The best method to identify a classic “price action reversal” is for an hourly candle to close, such as a pin bar, a doji, an outside or even just an engulfing candle with a higher close. You can exploit these levels or zones by watching the price action that occurs at the given levels. USD/CAD Analysis I wrote last Monday that the odds were still in favour of the bulls, even though the price may be over-extended and require a pull-back. I took a bullish bias above 1.3563 and this was a great call as the low of the day was just a couple of pips above that support level. Although the price is not moving by a great deal due to some USD weakness, the CAD remains very weak due to the still-falling price of Crude Oil. This pair could start to rise again later after the New York open. I would take a bullish bias after another good bounce at 1.3565. There is nothing important due today concerning either the CAD or the USD. It is a public holiday in Canada and the U.K., so CAD liquidity should be thin. Currency Pairs USD/CAD Adam Lemon Adam is a Forex trader who has worked within financial markets for over 12 years, including 6 years with Merrill Lynch. He is certified in Fund Management and Investment Management by the U.K. Chartered Institute for Securities & Investment. Learn more from Adam in his free lessons at FX Academy.