USDCAD has been growing since the opening of the trading session

  • Jul 19 2021
  • by
  • Analyst AZA
USDCAD has been growing since the opening of the trading session

USDCAD has been growing since the opening of the trading session

The USDCAD currency pair began to grow rapidly since the opening of the trading session due to the weakness of the Canadian dollar.
If you pay attention to other currency pairs that are traded with the Canadian dollar, you will see that they all began to rapidly move at price. Considering that there has been a growing trend for this pair already for several days, now it has only accelerated. For those traders who have not yet managed to open positions, a convenient moment to open order will be to break through the flat-level 1.2800. Profit can be taken at the level of 1.2880 where the price will meet resistance. But taking into account the dynamics of price growth, the Take Profit order can be moved higher to the level of 1.2940.

Symbol: USDCAD
Order Type: Pending Order - Buy Stop
Entry Price at 1.2800
Take Profit at 1.2880
Pips Earning: 80

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The profit can be $629.92 if the trading volume of 100000 USD (1 Lot).

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