Personally, I have lost money investing in this pair and decided to change currencies. Now I'm working with (EUR / USD) buying and selling. I'm making money with this pair and I will continue doing it.
As of writing, I see a uptrend on the 4 hour, with a possible 50 pip retracement looming. Get your limit orders ready for that one.
When it comes to which direction the USDCAD is going i really believe it strongly depends on which time frame the individual trader is trading on .The trader who is trading intraday for example is more likely to have a separate outlook from someone who is trading long term for example.
I just follow the trend. I check my orders once a day, if there is a profit across the board I take it, and then reestablish all of my limit orders. My trading system can either be played long term or daily. So far I'm averaging 1000 pips a month.
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