USDCAD has rallied sharply as economic data out of Canada has dragged down the Canadian Dollar while the collapse in the oil price has also contributed to the sell-off. I have entered my short position in this currency pair as I expect profit taking to occur and I will enter more short positions every 25 pips higher from here until we reach 1-2190. Forex traders will seek good short entry opportunities in this currency pair and should have more than one entry in this trade in order to reduce risk.
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