USDCAD: Heading for parity?

Looks like the USDCAD will head for parity. The market traded in a range for a few days, that’s the kind of behavior we usually see when the market reaches an important level. But right now, it looks like the USDCAD is out of that range. Take a look at the next chart:


My Trading Plan:

As long as the USDCAD keeps trading below the 1.0268 I will be looking for short trading opportunities. All take profit orders will be set above the parity (strong support is expected around that zone).

All long opportunities will be ignored.

Trade Safe!

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 .