Hello traders, let's review the 8 hour chart for USDCAD today. Currently trading in well defined range, since October 2022. Right now closing in on range lows, so naturally the risk/reward is shifting in bulls favor towards premium prices.
  • Active trading range is pretty wide, almost 500 pips wide. Range lows defined by 3400 and range highs set at 3770. 3840/3940 premium prices above range highs, and 3330/3250 premium prices below range lows.



  • Recommended strategy for USDCAD swing trade setup: Bulls focus on buying low near premium prices, best entry near 3300 and stop loss below premium prices. TP1 bulls is +150 pips TP2 bulls is +300 pips, conservative targets based on latest price swings in USDCAD .