Sell USDCAD - Target: 1.305

2020-02-12 18:01:06

Short USDCAD to ride possible rally in oil and consolidation in DXY. Better to short limit @1.33-1335 (38.2 fib and previous high), with initial TP near 1.315,but can be extended to 1.305 depending on price action.

Need to be careful because depending on Fed, DXY and Trump, it's possible for USDCAD to still extend its rally to 1.34 instead especially seasonality for this month is biased on the up side.

Weekly:
https://www.tradingview.com/x/U02PpXzg/

Daily:
https://www.tradingview.com/x/4VQUunoX/