empty
 
 
06.11.2019 11:19 AM
Trading idea for USDCAD pair

Good day, dear traders! Today, we have USD/CAD on the agenda again because yesterday closed extremely interesting from purchases. It should be understood that yesterday was a volatile day not only for USD/CAD but also for all instruments related to the US dollar. But it was against the Canadian dollar that it looked most interesting.

And even the growing oil could not prevent the bullish rally in the dollar/Canadian pair, which hints at the strength of the buyer. Therefore, the plan at the moment is simply – try to take a buy position, but remember that rollback after yesterday's growth is also possible. In any case, the last point to cancel the scenario can be considered the level of 1.3114, therefore, extreme losses should be limited to this level. The main goal for purchasing is at 1.3206, as this level is extremely important for the seller.

This image is no longer relevant

Also, do not forget about unemployment in Canada, the report on which will be released on Friday at 14:30 London time.

I wish you success in trading and big profits!

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback