USD/CAD Trading above the 1.3000.
The short term trend is in an Uptrend technically indicated by following:
• Break above the downtrend trend-line - Price is currently trading above the downtrend line, buy signal.
• Bullish Cross of MA10 above the MA20, buy signal.
• RSI > 50, bullish momentum.
Prices are trading above the support level at 1.3000.
Therefore, we will recommend LONG POSITIONS for the no position holders on USD/CAD. Take profit at 1.3350 – 1.3400 at the SMA200. Stop loss should be a bit below the support level-A, thus the stop loss is at 1.2950.
For LONG-holders we will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
For the short-position holders we will recommend them to CLOSE SHORT POSITIONS AND GO LONG (since they are trading against the short-term trend) and adopt the same limit and stop orders as mentioned above.
This strategy aims for yield-to-risk ratio of 5x which is good for money management purposes.
Otherwise, short buyers could enter the market in case of a daily close below the 1.2750.
• Break above the downtrend trend-line - Price is currently trading above the downtrend line, buy signal.
• Bullish Cross of MA10 above the MA20, buy signal.
• RSI > 50, bullish momentum.
Prices are trading above the support level at 1.3000.
Therefore, we will recommend LONG POSITIONS for the no position holders on USD/CAD. Take profit at 1.3350 – 1.3400 at the SMA200. Stop loss should be a bit below the support level-A, thus the stop loss is at 1.2950.
For LONG-holders we will recommend to HOLD their long positions and adopt the same stop loss and take profit orders as mentioned above.
For the short-position holders we will recommend them to CLOSE SHORT POSITIONS AND GO LONG (since they are trading against the short-term trend) and adopt the same limit and stop orders as mentioned above.
This strategy aims for yield-to-risk ratio of 5x which is good for money management purposes.
Otherwise, short buyers could enter the market in case of a daily close below the 1.2750.
Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.