Murali Sarma
Trade Guidance, LLC
The Canadian Dollar has been heading up against the Greenback since the start of the week with USD/CAD plummeting back into objective yearly open support. While currencies in general weighted against the USD do carry the broader risk remaining weighted to the downside, the immediate decline may be delayed here and we’re looking for price reversion off this zone These are the updated targets and invalidation levels that matter on the USD/CAD price charts.
At TradeGuidance we try and give our subscribers clear and concise actionable ideas supported with charts every single day. We strive to analyze price moves while factoring the underlying fundamentals and present a tradeable set of levels twice daily without confusing rhetoric which otherwise derails the short-term traders’ focus. Our goals has always been to trade what we put out ourselves while encouraging our subscribers and followers to be patient and wait for the entry/entry range while respecting stated stops while leaving the profit targets entirely to the individual. Follow us on twitter at TradeGuidance where most of our ideas are presented.
We present a trade idea below which we are currently in both the spot and the underlying currency:
Chart
Risk Disclosure: Futures, forex, currencies and stock/options trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or lifestyle. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. Past Performance Disclosure: Past performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between actively monitored performance results and the actual results subsequently achieved by anyone using any trader’s newsletter service. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of actual or simulated performance results and all which can adversely affect trading results. Although TradeGuidance never presents hypothetical or simulated trade results, all trades presented can be in a simulated using back-testing to demonstrate similar results.
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