USDCAD likes to do inverted Vs. Ramp, consolidate, fade. So the mirror fractal isn't a bad fit. Also it's in a bullish descending wedge. Trump-Trudeau and the Wilbur Ross confirmation today can only be bad for NAFTA, but as often happens, (GBP & EUR into Brexit), counterintuitive trading occurs before the event.So we have three technicals, and one fundamental reason to support this. The possible spike down is a problem for cash trades (buy 1.2950 would need 200 pips). Suggest an March monthly option, or layer-buy (buy 1.2950, add 1.2900, 100pt SLs ...)
Note
Still inside, Trudeau was a non-event. Still looking for <1.30 to buyTrade closed: target reached
Textbook!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.