Monday, August 24, 2009

USDCAD (1.0817)

USDCAD is moving in a very nice downward trend. It currently seems
that USDCAD will keep its downward momentum and long term traders will
look to sell it on rise to 1.0900 level. Initial target will be around
1.0750 level, which traders might extend to 1.0675 level.

Recommended Trade Levels

Trade 1: Sell USDCAD @ 1.0900
Stop: 1.0975
Profit Target 1: 1.0750
Profit Target 2: 1.0675