⚜ USDCAD SHORT 270pips

Hello Traders, 🙋‍♂️🙋‍♂️🙋‍♂️

Here we have a USDCAD long trade idea. If you like this idea please show your support!

USD

United States Dollar ( USD ) weakness can be expected as price is showing signs of resistance on a bull run. On the DXY chart below we can see price has hit our structure level. On the smaller time frame we can see rejection also shown below. This can be seen in the weak candles shown on the 8HR chart.

DXY weakness weekly timeframe

CAD

The Canadian Dollar ( CAD ) has been dropping for the past few weeks this can be seen on my 750 pip CADJPY short idea shared a few weeks ago. We are expecting some strength in this currency as we are expecting a correction.

More CAD strength can be expected as we can see other pairs such as CADCHF below which is at a structure level and at a trendline touch so we are also expecting bullish momentum from this pair as well.

CADCHF upcoming strength

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Please trade with caution and make sure you set your stop losses! Happy Trading 😁

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Price kissed SL we have reentered as we still expect this to go down