USD/CAD: more trade ideas

USD/CAD: more trade ideas

2019-11-11 • Updated

Trade ideas

SELL 1.3110; TP 1.3050; SL 1.3130

SELL 1.3230; TP 1.3115; SL 1.3265

USD/CAD has reached the target at 1.3115 we’ve given earlier this week. The pair’s currently supported by the 50-day MA. However, a spike in volatility is expected today due to the release of the US Nonfarm Payrolls.

If the market goes through this support, the natural target will be at 1.3050 (trendline support of 2018, 38.2% Fibo of 2017-2018 advance).

On the upside, a recovery above 1.3170 may lead the pair up to 1.32 and 1.3260 if the US data give a positive surprise.

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