USD/TRY belongs to the exotic group of Forex currency pairs, that’s why traders don’t trade it regularly. However, these days this pair is in the focus of all the trading community!
USD/CAD looks vulnerable
2020-07-31 • Updated
If the market gets confirmation that Canadian economy is doing better than the US one, which had a very bad Q2, USD/CAD will suffer. The pair is already trading within a downtrend. June lows have provided support near 1.3315, but the resistance line from the March highs is limiting the upside around 1.3460.
On the H4, support is located at 1.3400 (50-period MA). A decline below this level will open the way down to 1.3355.
Trade idea for USD/CAD
SELL 1.3395; TP 1.3355; SL 1.3415
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