Friday has brought a myriad of challenges to currency players. Trade war hysteria has boiled over, with the USD fading against the majors. It appears that selling the Greenback is the play across the early U.S. forex session. The 1.3134-40 area has set up as value in the USD/CAD for the last two days. If this market tests it once again, a nice position to the short will be in play.
Here it is:
1)Entry: Sell 1.3134
2)Stop Loss: 1.3176
3) Profit Target: 1.3092
4) Risk vs Reward Ratio: 1/1
In the event that this trade goes live before today's forex close, the short position will stand over the weekend. If not, scratch the trade.
Here it is:
1)Entry: Sell 1.3134
2)Stop Loss: 1.3176
3) Profit Target: 1.3092
4) Risk vs Reward Ratio: 1/1
In the event that this trade goes live before today's forex close, the short position will stand over the weekend. If not, scratch the trade.