USD/CAD: Trading Scenarios
Yuri Papshev | Jul 14, 2021 07:47AM ET
A rise into the zone above the 1.2600 resistance level will increase the odds, and a breakout of the key long-term resistance level 1.2960 will finally return USD/CAD to a multi-year bull market. Long positions are preferable in the current situation.
In an alternative scenario, the breakdown of the resistance level 1.2345 will become a confirmation signal for the resumption of short positions, and the first signal for
USD/CAD sales will become a breakdown of the short-term support level 1.2458.
h2 Trading scenarios/h2Sell Stop 1.2480. Stop-Loss 1.2535. Take-Profit 1.2458, 1.2450, 1.2345, 1.2225, 1.2165, 1.2128, 1.2085, 1.2010
Buy Stop 1.2535. Stop-Loss 1.2480. Take-Profit 1.2600, 1.2645, 1.2740, 1.2960
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