USDCAD GOING TO MEET STRONG RESISTANCE AT LEVEL 1.33100
There is a key resistance level 1.33100 where there is the FIBO 38.2, FIBO exension 1
00%(1:1), and a high of 24 march 2016.
Since the USD may begins its bullish reversal(at least until next FOMC meeting), we could still place a small short position if a reversal signal is to be seen at this level, and this trade only suitable for a short period.
TRADE IDEA:
SELL AT 1.33100 UPON BEARISH REVERSAL SIGNAL
SL :CLOSE AT ABOVE 1.33700 OR IF THE BEARISH REVERSAL POINT IS BROKEN
TP :NEAR 1.30500
00%(1:1), and a high of 24 march 2016.
Since the USD may begins its bullish reversal(at least until next FOMC meeting), we could still place a small short position if a reversal signal is to be seen at this level, and this trade only suitable for a short period.
TRADE IDEA:
SELL AT 1.33100 UPON BEARISH REVERSAL SIGNAL
SL :CLOSE AT ABOVE 1.33700 OR IF THE BEARISH REVERSAL POINT IS BROKEN
TP :NEAR 1.30500
USD Bullish trend seems to continue after Janet Yellen's speak, look for short-term buy opportunity and observe price action at near 1.33000.