USDCAD Free Forex Trading Signals – 19th April 2017
USDCAD has been bullish on the H4 chart. The price broke the bearish Trend line last week. Then, the price has been making higher highs on the H4 chart. If we get a breakout later today, then buying the pair would get us some green pips with excellent risk and reward ratio. Let us have a look at the H1 chart of USDCAD…
As this chart shows that, the level of 1.34000 has been working as a level of resistance. However, today’s price action has been bullish so far. It seems the price might come down to the Support level to make another move towards the North. If it does, then the move would be very strong since we would get a Double top here then. If it does not come down to the Support level, but makes a breakout at 1.34000, then we might have to wait for some correction to take long entry. In both cases, the target is 1.35550.
Let us have a look at the summary of the trade
- Buy Stop Order: 1.34000
- Stop Loss Level: 1.33730
- Take Profit Target: 1.35550
It has been a tough month for the Forex traders. The market has been shaky. Yesterday’s speech by UK prime minister has given the market another big shake. Traders must not lose their patience, but be even more discipline. The market will settle down and opportunities will come. There is no point of being in a hurry and push ourselves hard to take entries. Keep this in mind “Having no position in the Forex market is like having a position”.
You can also take a look at our previous (and most likely profitable) Free Forex Trading Signals Here.
We hope that you enjoy our Free Forex Trading Signal today: USDCAD Free Forex Trading Signals – 19th April 2017
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