1,2557. USD CAD is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a support above 1,2460 (97 pips). The uptrend should continue on 1,3000 resistance (443 pips).
=> We could take a long position at 1,2550. We will put the stop loss below 1,2450 (-100 pips). The targets are 1,2725 (+175 pips, risk/reward 1:1.8), 1,2800 (+250 pips, risk/reward 1:2.5) .
Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following):
3.
- Resistances
- 1,2565 - 1,2630
- Supports
- 1,2465 - 1,2415
