1,0145. USD CAD is in an downtrend directed by 1H exponential moving averages. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,0160. The downtrend should continue to gather momentum.
=> We could take a short position at 1,0150. We will put the stop loss above 1,0190 (-40 pips). The targets are 1,0070 (+80 pips) 1,0000 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
1,0160 - 1,0190
Supports
1,0100 - 1,0070