As WTI began to move lower in the U.S. part of the session, a long is taken in the USDCAD. This trade worked out well as it moved quickly to our targets and we exited at our Target 2 – 1.3160 an hour later. A risk of 18 pips for a potential 73 pips to our Target 2 made the trade very compelling and a nice way to end the week.
The EUR closed Thursday above 1.1000 but if it closes the week below this level… I expect the bearishness will continue and next week, it will test the June Brexit day low… before heading to test its March low.
Summer trading continues to be good!
Good luck with your trading and enjoy your weekend!