The USD/CAD trading plan for the current market condition is as follows. This pair is currently trendin down on the H4 time frame and the D1 time frame trend could follow. Traders can set an audible price alert at 1.2830 on this pair. Wen the price alert goes off look for a sell signal on this pair in the main session on The Forex Heatmap® forex heatmap. This pair has very good poential to drop down to the 1.2550 support area, which is noted by the yellow line. So this is 280 pips of potential, excellent risk/reward ratio
This trading plans was prepared using multiple time frame analysis by individual currency, and we are detecting some CAD (Canadian Dollar) strength in the market now to drive the movement. We use this method to analyze 28 pairs for ou daily forex trading plans at Forexearlywarning.com.