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DAILY FOREX IDEAS

USDCAD Trading Plan

The USDCAD hit the resistance zone in 1.3464 (Fibonacci 61.8% level) within a B wave structure which is forming like a continuation triangle pattern.

So there can be two ways to play this one out:
A) Short trade from current levels with a stop loss above 1.3470 with a target near 1.3250 and then a buy from there for new move to the high 1.3660
B) Wait until the price price goes to the 1.3200/50 zone and buy there to aim for the top at 1.3660

This is a long term view and keep in mind that trading B waves is very tricky!

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