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Lambert: Why I’m selling USDCAD

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Clive Lambert from FuturesTechs is focused on the weakness in USDCAD. A shooting star reversal pattern was posted yesterday, signaling a downward trend in the currency pair. Clive notes that other technical indicators have already signaled that the currency pair was stalling. Therefore, Clive is looking to sell at CAD .1.2440. His three targets for the trade are CAD 1.2330, CAD 1.2270, and CAD 1.2140. A stop can be placed at CAD 1.2480. Clive says that it may take a couple of days, or even a week, to hit all of the targets on this trade.

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