FX.co ★ USD/CAD Trading Recommendations for 8th August 2016

We have reached our profit target on Friday after USD/CAD made the bounce we expected perfectly. We look to sell on strength below 1.3240 which is a strong graphical resistance line and the Bollinger band resistance on the 4H chart. Stochastics is approaching the 92% resistance soon but still has some potential to rise before it turns down.

Trading Recommendations :

Sell below 1.3240.

Stop loss at 1.3385.

Take profit at 1.3090.