USDCAD: Bearish market condition, short opportunities in play

Last week the USDCAD seemed that it would continue to trade in the range between 1.1067 and 1.0736, but earlier this week the USDCAD started to break the long term support level, and frankly, I think it will continue to move down, at least until it hits the next support level. Please take a look at the next chart:

USDCAD
USDCAD

My Trading Plan for the USDCAD:

Will look for short trading signals, and will set all TP levels above its next long term support level around 1.0320

All long signals will be ignored.

Good luck!

Raul Lopez

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .