USDCAD:
Current Price: 1.0189 USDCAD at 10:40 EDT – Today in the Bank Flow room we mentioned that 1.0245 and 1.0280 on the USDCAD are the next levels we will be watching for sells. At the moment 1.0200 seems to be holding the bulls from climbing. A breach of that area should take it to the bank flow levels at 1.0245 for an intraday bounce. If sells are taken at that area keep in mind the possibility of spikes to 1.0280. I will look for an initial 20 – 30 pip bounce down and will move to take profit or lock in to protect the margin.
Be aware that this pair has a tendency to spike through levels without warning. A good risk management plan is essential when trading this combo.
Dustin is recognized as one of the top Forex traders and education authorities in the world today. As the President of Forex Traders Daily he has helped thousands of traders learn how to profitably trade the Forex market. Dustin's goal is to help you achieve your financial goals faster and easier than you ever imagined. You can follow him and Forex Traders Daily on: Twitter, Facebook, and Youtube.
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Author: Dustin Pass
Dustin is recognized as one of the top Forex traders and education authorities in the world today. As the President of Forex Traders Daily he has helped thousands of traders learn how to profitably trade the Forex market. Dustin's goal is to help you achieve your financial goals faster and easier than you ever imagined. You can follow him and Forex Traders Daily on: Twitter, Facebook, and Youtube.
