Since the soft NFP number last Friday, the USD has been under pressure.
Today with an overall USD weakness continuing and WTI moving up, a short is taken on the CAD pair. With a 17 pip stop loss just above the double-top, we go short for a potential 84 pips to our Target 2.
Price drops as WTI moves up strongly. As price attempts to break beneath yesterday’s low and the Asian session low, buyers emerge and we close the trade as price jumps back up to the previous candle’s close.
Good luck with your trading!
Back tomorrow if we find a trade.