Dear USD/CAD Trading Signal Traders

The trading signal from last time has reached its primary target. I assume some of you have already taken profit. Although this is a strong resistance area, I do not feel that the EUR/USD move has been exhausted. I have taken only half of my position off the market and am letting the other one run. I m targeting the next resistance area at 1.1600.

Today’s trading signal is coming from USD/CAD. The candlestick formation from yesterday is a pin bar and today, we have seen a bullish candle. The last three candles do remind me of a morning star candlestick pattern. On top of that, this formation is just above a strong support level and that is another very good reason to go long USD/CAD. My long entry would be at 1.3077 and my stop loss would be placed just under 1.2850. My primary price target is the level of 1.3275. Then, it will come down to price action to decide.

Happy Trading,

Colibri Trader

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