USDCAD the Trade of the Day

USDCAD the Trade of the Day

Hi Traders,

With the latest US Oil inventories data showinglower supplies the Oil price has found a real base.

The priceis not only comfortable with the $45-46 handle it’s starting to grind higher. We've had a nice technical break through 45.50, followed by a decentretracement.

Now it’s really set to move above $50.00 which should coincide with USDCAD touching 1.2500 again!

Trade Entry: I am selling back towardsresistance at 1.2866.

I have set up our Trendline Trader to manage the execution. It has adynamic entry that will track the trendline and execute 12 points from it.

ExitLevels: S/L 25 points T/P 150 points.

We justneed to wait for OIL to start moving!

If this order is not active by the time of the US Retails Sales release I will cancel it.

Good Luck Traders

Bradley Gilbert, CTA

Traders4Traders