USD/CAD: Levels, Ranges, Targets

Based on big candle drop, Profit taken on these trades in the 1.3140’s. 3 lots paid total 96 pips.

Now long again from 1.3146, take profit 1.3196 for 50 pips. Supports below located at Bottom 1.3075 then 1.3048 and 1.3052. Further below 1.2946 and built on base at 1.2687.

Big line break above 1.3318. How to achieve target is through 1.3175, 1.3184, 1.3188 then 1.3213, 1.3228.

I’m looking for other trades for today. We’ll count last CAD trade as 1 trade, 29 more to go. Maybe GBP/JPY offers an opportunity. I will look at GBP and crosses.

Brian Twomey, Inside the Currency Market.

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