USDCAD / H4 / Daily Forex Technical Analysis / 7.3.2019

Jul 3, 2019

Hello Traders, welcome to the Daily Forex technical analysis. Today is July 3rd, 2019 and we will be taking a look at the U.S. Dollar against the Canadian Dollar. Looking at the 4 hour time frame we are looking for price action to hold the current area of support at the 1.309 previous support zone. Price action had an aggressive move towards the upside and is currently in a minor pullback possibly retesting the 1.309 support zone. If price action can hold we will be looking for an entry long. Entry for a Long position near the 1.30950 area, with a Stop Loss near the 1.30700 zone, and a target profit level area of 1.31554 that could possibly ensure a profitable trade with a 2.42 to 1 R/R. Thank you for tuning in please feel free to write a comment or leave some feedback, any advice is greatly appreciated. Have great day and good hunting out there traders!