Pick of the Day: USD/CAD

USDCAD has been in a down trend and has been bouncing down off the 50 SMA along the way. I see the pair making a break up to 100 SMA and then possibly coming back down. So, for this trade I’m just going to have watch and make the trade when it touches the 100 SMA. I’m placing the stop 10 pips above the R2 line. Going for 10 pips as usual, and my aggressive target is going to be the R1 line. Good luck and good trading!