Forecast – BEARISH

Date Posted:       6 Jan 2020

Currency Pair:     USDCAD

Current Trend:    DOWN

Forecast Move:    DOWN

Key Tech Level:    1.2960

Potential Opportunity

Trade Action:   SELL A BREAK

Stop Loss          1.2985        -25 pips

Entry                  1.2960

Take Profit        1.2885       +75 pips

Chart & Forecast Details

USDCAD is already trending lower so all we need is strong Canadian data or weak US data and it should roll to the downside. We’ve got a short term support level to work with as well around 1.2960. If it breaks through 1.2960 it should have a clean run towards 1.2850.

Key Trade Day: Friday 10th Jan – CAD Employment Change & US NFP Employment Change

Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

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