Good afternoon traders! A trading idea for the USD / CAD pair.
The macroeconomic reports published on Friday led to the weakening of the USD / CAD pair.
It resulted in the quotes closing with a pin bar in the daily chart (D1).
To lower the pair even more in the trading chart, open short positions from the pullback, and work on breaking the buy stop orders below the level of 1.34850 in the hourly chart (H1).
The profitability of such a transaction is 2 to 1.
It is based on the “Price Action” and “Stop Hunting” strategies.
Good luck and remember to control the risks!
The material has been provided by InstaForex Company – www.instaforex.com