Midday Forex price action analysis – 2016-09-01 (Potential setups on USD/CAD)

Posted on

UPDATE: The EUR/USD long was triggered due to the ISM Manufacturing PMI’s surprise fall below 50. I do not think anyone saw that coming. Since the entry was triggered by a news based spike, and these spikes tend to retrace quickly, I am closing this trade early.

In today’s analysis I spot one potential trade, a USD/CAD daily chart short.

[youtube-banner]