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Good day, dear traders! I present to your attention, a trading idea for the USD/CAD pair.
The US dollar is strengthening against all currency pairs, winning over majors such as EUR/USD, GBP/USD, and AUD/USD. The fall against the dollar is almost vertical, as not everyone can jump into such movements. However, there is a pair that remains relatively calm - the USD/CAD pair. On Wednesday, good data on inflation was released, so the loonie was positive, even against the background of the strong dollar.
As you can see, a buy signal was formed yesterday, as part of the Price Action strategy:
Once again, the pair is growing for the second month. And, against the background of a very strong annual stop level of sellers in the area of 1.3500, the pair looks very attractive for medium-term purchases. From the current prices, although the risk/profit ratio is 1 to 2, the breakdown itself can be volatile. On the other hand, if you focus on the closing of daily candles, the ratio can be 1 to 3, which is generally not bad, given the crisis that we are facing at the moment.
Good luck in trading and control your risks!
Díky analytickým přehledům společnosti InstaForex získáte plné povědomi o tržních trendech! Jako zákazníkovi společnosti InstaForex je Vám k dispozici velký počet bezplatných služeb umožňujících efektivní obchodování.
