USD/CAD further downside expected

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

Author

Murali Sarma

Trade Guidance, LLC

Murali Sarma is a private investor and trader, dealing in currencies, commodities (grains, energies, metals, bonds, indices) and stocks.

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