27.12.201912:52 Forex Analysis & Reviews: CAD - contender to update the lows of the year

Good day, dear traders!

The weakening of the US dollar occurs in all currencies almost simultaneously. It looks especially bright through gold which goes up without any pullbacks. To ride this trend, you have to choose other tools.

Fore me, I chose those that have clearer goals from the point of view of the "hunt for footsteps" system.

My attention is drawn today to the USD/CAD pair, which has recently shown a good downward trend. Many of you will say that the latest data from Canada were not very impressive, but it should be noted that the US dollar is weakening much stronger than the Canadian dollar, swallowing all the Canadian negative:

The USD/CAD pair has a very good and round goal at the level of 1.3, which is also the minimum of the year. The good thing is: we are in close proximity to it! Only 1000p for 5 digits is remaining, and then it will be broken! Can you imagine how much long-term buyers' stops are worth?

I propose to work on a decline, target 1.3, and close the profit at the breakdown of this level with a daily candle. The potential movement from the current prices is 1000p for 5 digits. With a rollback, the prices will be more profitable.

Good luck in trading and control the risks!