0,9860. 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 is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 0,9875. The downtrend should continue to gather momentum.
=> We could take a short position at 0,9860. We will put the stop loss above 0,9890 (-30 pips). The targets are 0,9810 (+50 pips) 0,9750 (+110 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
0,9875 - 0,9890
0,9850 - 0,9810