16.07.202010:49 Forex Analysis & Reviews: Trading idea for USD/CAD pair

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Good afternoon, dear traders! I present to you the trading idea for the USD/CAD pair.

So, yesterday, the position of the Canadian dollar strengthened on all instruments after the publication of data on inflation, interest rates and a press conference of the Bank of Canada. Therefore, special attention should be paid to the USD/CAD pair, where an unprecedented pressure is created on the level of 1.34800

Now, it is recommended to work on a decline from the pullback to the nearest technical resistance of the 1.35400 quote, which is a 50% pullback from yesterday's short-term price in the United States.

The short-term scenario will be canceled if yesterday's short-term initiative breaks above the quote 1.35850.

The trading idea is presented in the framework of the "Price Action" and "Hunting-for-feet" methods.

Good luck in trading and control the risks!

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