Long $USDCAD for test of the top of the (Range Trading)

On this test of support at the bottom of the range I am looking to buy $USDCAD for a test of resistance. If this break is confirmed and hold, then this trade is no longer viable and further losses can be expected. However, until then I would proceed with caution and favor a long at support. Especially, since the pair is in oversold territory, however, I am keeping my stops tight.

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Dr. Lydia Smith

Commentaire:

This trade is looking to be breaking the range. Do not trade