USDCAD SELL Swing down to 1.3000

24 thg 6, 2019

The USDCAD end up breaking the inner trend line on Thursday of last week and push down to the 1.3200 level. It tested the backside of the 1.3200 level on Friday and as of now has failed there are a few good things going for this trade the ADX on the daily is approaching 20 the Stoch is waving down to the BUY zone and the 2hr is in the SELL zone as we speak. Typically, I would look to sell down to the fibonacci extension however with Oil at a high price I think that this rally will probably be short lived but until I will look to trade to the outer trend line at 1.3000. Stop needs to be over the swing high on the 2hr chart which will make the ratio worth wild taking .

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