Trade idea - USDCAD short opportunity

USDCAD had been the strongest currency most of the month of August 2021.
The next strong resistances are 1.2925 and 1.3025.

Currently trading at 1.2825, the pair has shaken most of the CAD bulls going from 1.2625 to almost 200 pips USD gain against the CAD.

We like the idea of a long CAD against USD and expect the price to go back to 1.26 levels.

Month end of August will be crucial for USDCAD traders.

Transaction en cours:

50% positions offloaded and 50% positions still running.

Commentaire:

Offloaded at 1.2773

Trade fermée manuellement:

All positions closed at 1.2670.