USDCAD capped by key average, lower levels targeted
Selling pressure grew over the last five days. Two modest weekly declines were followed by a more aggressive one and although the move was dominated by the first three days of the week, the rally attempts over the last two days were weak.
Management and risk description
A move to 1.2695 means the stop can be lowered to breakeven or better.
Entry: sell in 1.2790/00 area and any rally to 1.2877
Stop: 1.2984 bid
Target: 1.2695, 1.2632 or even 1.2540.
Time horizon: this week.
Three down weeks:
Create your own charts with SaxoTraderGO click here to learn more
— Edited by Michael McKenna