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USDCAD continues to fall and does not even react to the news
The USD CAD pair continues to fall and does not even react to the news
The Canadian dollar has put a lot of pressure on many currencies. In some cases, economic news has dramatically changed the rate of quotations, but not for this currency pair. The downtrend continued and is gaining momentum. Close to a strong support level of 1.2490 from which the price bounced many times. A breakout of this level will signal the continuation of the downtrend.
Symbol: USDCAD
Order Type: Pending Order - Sell Stop
Entry Price at 1.2490
Take Profit at 1.2450
Pips Earning: 40
Forex trade strategy for major currency pairs:
EURUSD buy at the price of 1.1420
USDJPY sell at the price of 115.00
GBPUSD buy at the price of 1.3695
USDCHF sell at the price of 0.9180
Trading recommendation for the currency pair
The profit can be $314.96 if the trading volume of 100000 USD (1 Lot).
The profit can be $314.96 if the trading volume of 100000 USD (1 Lot).
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