FX.co ★ USDCAD – take profits!

Good day, dear traders! Congratulations to those who took advantage of our idea to sell USDCAD on Friday, November 15.

Let me remind you, the idea was to "hunt for the footsteps" of buyers who remained behind the "mirror level" of 1.32120:

As you can see – the level was broken today:

It should be noted that the driver of this idea was the weak US dollar, which went into a pullback from Thursday's speech by Powell and Fed officials. We just worked the third wave of this weakness into a clear stop level.

If you decide to leave part of the position on USDCAD – I recommend taking profits at a round level of 1.3, which is also a stop for long-term buyers.

Good luck in trading and follow money management!