USDCAD: Just Broke through the long term range

Written by Raul Lopez on . Posted in Trades & Analysis.

Since the first days of August the USDCAD has been trading in a range in between 1.0659 and 1.1067, but today is out of it. Take a look at the next chart:

USDCAD
USDCAD

In the chart above is clear that the USDCAD is out of that range, this puts the USDCAD in a bearish market condition.

My Trading Plan:

As long as the market keeps trading below 1.0622 I will be looking for short trading opportunities. All my TP orders will be placed above the next long term support level around 1.0319

All long opportunities will be ignored.

Trade Safe!

Raul Lopez

Canadian dollar, Forex majors, USDCAD Analysis

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 .
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