It is important to use the learn the correct method of Forex analysis to avoid the risk of losing money.
Many clients trade via spread bets and CFDs which allows them to buy or sell with the price movements in the market. Here at Platinum, we are here to provide support via trading opportunities and personalized one to one mentoring. As a trader, you can trade many currencies in real time such as GBP/USD. USD/JPY and EUR/USD the list goes on at our forex trading academy we teach you to be a master one particular currency pair and move upwards from there onwards.
This week we are looking for a fresh opportunity on USD/CAD, a fantastic breakout opportunity has presented itself to us and we would like to share this with you. The Loonie is on the verge of a big move and we are looking to fill you in on how Platinum approaches this type of opportunity.
THE CANADIAN DOLLAR: Why forex analysis is crucial for a traders profitability
The USD/CAD tends to be a very trending par due to its correlation with the commodities especially oil. This is a relationship which can be exploited and one we take advantage of whenever there is a significant move on Oil.
FOREX ANALYSIS FROM A TECHNICAL POINT OF VIEW ON THE USD/CAD
From the daily chart, we can see the simultaneous breakout of a bullish trendline and demand level. Breakout has now occurred and will be looking for a short from the breakout level.
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USD/CAD FOREX TRADING STRATEGY
USD/CAD – Wait for a breakout of 1.3055, then on the pullback go Short @ 1.3055 with a 40 pips stop loss and a target of 1.2730
KEY TECHNICAL LEVELS ON THE USD/CAD
- 1.2900 – Long-term Buying Level
- 1.2800 – Long-term Buying level
- 1.3050 – Long-term Selling Level
- 1.3150 – Long-term Selling Level
If you would like to learn to trade forex using price action techniques implemented by ex-institutional Forex traders then stop looking at lagging indicators such as moving averages, cci, rsi, etc and trade the forex market with perfection. Watch our Traders trade foreign currencies live today!
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How to become a profitable Trader.
If you are a new trader and would like to learn how to trade, then sign up today to our 2-day free Foundation to Forex Trading Course. We have just introduced this as in the last month we have had a lot of inquiries on learning how to trade the financial markets. We can get you on the successful path of becoming a Financial Trader.
Hopefully, you have enjoyed today’s article and have gained great knowledge about trading opportunities and how to trade.
See you soon!
The Platinum Formula:
Perfect Fundamentals + Perfect Technical Analysis + Perfect Logic + Perfect Risk Management = Perfect Trade
The Platinum Way
At Platinum Trading Academy, United Kingdom, we teach all individuals from different walks of life to become a full-time trader or create a secondary revenue stream by trading part-time. We trade in an Institutional Way by letting the market come to us and being patient. Using Platinum’s Trading system you can take many Pips out of the market. We can ensure using this style of trading your trading will make a turnaround as you will become much more consistent.
If you want to trade like the professionals do, making consistently profitable returns from your trading, get in touch with us and we will demonstrate live exactly how we approach the markets.
Download our free ebook to read about the various Trading Patterns that work in the Financial Market. Watch Trades of the Week Videos in our video gallery. Subscribe to Platinum’s Forex Newsletter.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day!
Nisha Patel
Live from the Platinum Trading Floor.