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USDCAD LOSS

9th March 2017 contacttf

DEFINITION of 'USD/CAD (U.S. Dollar/Canadian Dollar)' The abbreviation for the U.S. dollar and Canadian dollar (USD/CAD) currency pair or cross. The currency pair tells the reader how many Canadian dollars (the quote currency) are needed to purchase one U.S. dollar (the base currency).

The resistance on this chart was not clear. I entered based on bearish candle on the 5 min chart. The price dropped after entry, but then retracted back.

I closed manually, because I could see price heading towards my stop.

Foreign exchange, commonly known as 'Forex' or 'FX', is the exchange of one currency for another at an agreed exchange price on the over-the-counter (OTC) market. Forex is the world's most traded market, with an average turnover in excess of US$5.3 trillion per day.