USDCAD has broken out of its range in the 1hr timeframe and seems to continue its upside trend, the 50 and 20 EMA is also crossed suggesting the uptrend is intact... we will be looking for a pull back towards 1.3519 resistance turned support for entry....this trade becomes invalid should the pair break back below this new support...the pair has a potential target of 1.3590
Kommentar:
a minor support seems to have been formed around 1.3550 area. however due to the potential target risk is almost equal to the potential stop point i.e R/R is 1:1 from that point i may want to stand aside until i find a more favorable condition