FX.co ★ USD/CAD. Buyer's Trap

Good afternoon, dear traders. I present to you the analysis of the USD / CAD pair. So, after the couple's tremendous growth from the beginning of the year by 13,000, we observe a correction above the quotes of the round level of 1.414. Last night, a powerful short-range initiative took place, which brought the pair closer to this level for the second time, creating a clear and understandable level of support for buyers to keep up with the trend.

Imagine yourself as a buyer in this case. You simply do not have another option, except to put a stop at 1.414. This is another buyer's trap that will slam in the near future. The potential from current prices is 1500p, but it can increase during the day. Do not miss your chance! Use intraday confirmations for smaller TFs as part of your trading strategy.

Success in trading and control the risks!