FX.co ★ Trading tips for USD/CAD

Good day, traders! Following the prolonged upward correction, USD/CAD saw a breakdown, from which a decline could begin.

And since there is a three-wave pattern (ABC) in the pair, in which wave A represents the bearish pressure in March, traders could enter the market by taking short positions from current prices up to the level of 1.38. Exit by taking profit upon the breakdown of 1.32300.

This trading idea is based on the "Price Action" and "Stop Hunting" methods.

Good luck and don't forget to control the risks! Have a nice day.