1,1828. USD CAD is in an downtrend directed by 1H exponential moving averages. USD CAD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The downtrend should continue to gather momentum.
=> We could take a short position at 1,1830. We will put the stop loss above 1,1875 (-45 pips). The targets are 1,1730 (+100 pips, risk/reward 1:2.2), 1,1630 (+200 pips, risk/reward 1:4.4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
1,1870 - 1,2000
1,1760 - 1,1730