Hello Traders,
How has your trading week been?
For me, it has been the slowest month this year. It’s expected though, we are still within the summer holidays. That’s the major reason why I have not been posting any setups this week. Liquidity should increase from next month.
That said, there is just one viable pair I can spot today.
1. USD/CAD
On the daily chart of the USD/CAD, price level 1.32532 to 1.33405 has been a major consolidation level.
Looking through the lens of the 4 hours chart, we can clearly see that price is currently resting on support level 1.32532.
If price gives enough bullish confirmations, we could go bullish on this pair and put our next target profit as 1.33405
If on the other hand, price breaks out from the present support level, our next possible support level will most likely be 1.32116.
That’s all we have for today folks, trade with caution and one thing you could do this season where there are many trading uncertainties is:
You could reduce the amount of risk taken per trade until the good days come back again.
Do stay pip-full
