USD/CAD: expect a correction

USD/CAD: expect a correction

2019-11-11 • Updated

Trade idea

SELL 1.3370; TP1 1.3300; TP2 1.3230; SL 1.3390

USD/CAD has reached resistance of June highs around 1.3386. It briefly tested levels above this point, but then returned lower.

A small “shooting star” candlestick was formed on D1 at the upper Bollinger band. The pair may correct to 1.33.

A break above the recent high at 1.3445 is needed to open the way up to the new highs at 1.3540.

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