USDCAD SELL trade idea 04 10 2021
SELL USDCAD 1.2610
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
SELL USDCAD 1.2610
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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