USDCAD SELL trade idea 04 10 2021

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SL: 1.2640

TP1: 1.2590

TP2: 1.2570

TP3: 1.2550

*Trading conditions may differ between account types and brokers.

Signal Analysis by LCMS Traders 

Currency Pair: USDCAD


Timeframe: H1

Step 1 - Previous News: USD: Core PCE Price Index continued increase, ISM Manufacturing PMI faster pace of expansion, CAD: GDP m/m indicated a contraction

Step 2 - Trend: Across, Trend Following

Step 3 - Support/Resistance: Breaking Through Support

Step 4 - Indicators

- Bollinger Bands: within

- MACD: fast down, slow flat

- Stochastic: H4 heading up

- PSAR: bearish

Step 5 - Upcoming News: USD: -, CAD: OPEC meetings today


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