Pick of the Day: USD/CAD

The momentum for this pair is currently in a downtrend, so we’ll look to short at a good price. Canada GDP comes out at 8:30 am EST tomorrow so please cancel order if the trade has not triggered. If the trade has triggered, close the trade at 8:00 am EST.

I’m looking to short at 1.1612 if the pair moves up, or at 1.1592 if the pair moves down. Stop for both entries at 1.1645. I have two targets. If the first target is hit at 1.1560 I’m closing half of my position and moving stop to beakeven. Then go for second target at 1.1530. Good luck and good trading!