Asian shares scaled a record high on Friday on growing prospects of a large U.S. economic stimulus package, while hopes that coronavirus vaccine rollouts will boost the global economy underpinned investor sentiment.
USD/CAD: sell in the downtrend
2020-10-23 • Updated
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125. The decline below this level will confirm a top and open the way down to 1.3100/1.3085. The outlook for buyers will improve only if USD/CAD manages to rise above 1.3160.
Trade idea for USD/CAD
SELL 1.3120; TP 1.3100; SL 1.3130
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