USDCAD: Trading in a Clear Medium Term Range

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

An image is worth a thousand words:

USDCAD
USDCAD

Pretty clear isn’t it?

It is right in the middle of the range, we still have a long way before the USDCAD reaches the next LT resistance level, and therefore long opportunities are in play.

Here is my Trading Plan:

As long as the USDCAD trades above 1.0491 I will be looking for long trade opportunities. My next LT level is at 1.0691

Short opportunities are out of play in the Canadian Dollar

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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