USDCAD Trade Idea (12th February 2020)

Currency Pair: USDCAD
Timeframe: H1
Date/Time of Signal: 12th February 2020 / 1545hrs (SGT)

Review:

recovering crude oil prices helping the commodity-sensitive CAD gather strength against the greenback.

Recently, USDCAD tested and unable to break through the Resistance level of 1.3330. The recovering of crude oil prices has helped strengthened the oil sensitive Loonie.

Trade signaled to sell USDCAD (Entry: 1.3277) with 3 Take Profit (TP) Targets (TP1: 1.3257, TP2: 1.3237, TP3: 1.3217) and Stop Loss (SL) at 1.3307.