FX.co ★ Trading idea for CAD

OPEC decided to maintain its agreed production plan for November. This provoked oil to break above $ 77 and trade around $ 80 a barrel.

Accordingly, world currencies associated with oil strengthened, hitting monthly, if not yearly highs. This opens good opportunities to set up limit orders.

AUD / CAD:

NZD/CAD:

CAD/CHF:

CAD / JPY:

The orders should have an increment of around 300-500 pips. The volume should be 0.01 STANDARD lot for every $ 1000 of the deposit.

This plan follows "Grid trading".

Good luck and have a nice day!