I am expeccting a pull-back of the USD against the CAD from their current rally of 1.08500. The pull back is part of a fibanocci wave pattern that suggests it will retract before resuming it's up-trend to the 1.10 area. I have placed an order to sell 2 units of USD/CAD at 1.08600. Here are the further details of the trade:
USD/CAD
Sell 2 units at 1.08600, SL=1.09, TP=108.20
Risk: 27 pips, $250/$25
Reward: tba
From the Desk of:
Aaron Reid
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