ForceFollower
Long

EURCAD H4: At the trendline

FX:EURCAD   Euro / Canadian Dollar
168 22 2
Now that we're again at the trendline , can we expect the price to bounce off of it again? And can we not? The euro             is still one of the strongest currencies, whereas the CAD is relatively weak. The trendline provides an opportunity of fresh entries for buyers. As the rule says, the trendline always works until... it doesn't. Or in other words, beat the trendline to death, until it dies. So it's possible we'll see another rally to 1.5. Otherwise there's going to be a trendline break and price will plunge to the low of 1.459.
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Same idea! Good luck to all!

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Thanks for the input. I'm not that bullish about, but who knows? First let me see this bearish channel broken.
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I think we have a useful trendline , when coming down on this guy following a successful test of top ;)
+1 Reply
ForceFollower moorekapital
Yes, this one seems to be working better.
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Going back above the trendline. Let's see, if the rally can make it to the red trendline - upper border of the channel.
+1 Reply
moorekapital ForceFollower
Looking like +/- 1.4750000 held ;)
+1 Reply
ForceFollower moorekapital
Yes, it did. It looks like we've had a fake rally so far.
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moorekapital ForceFollower
current 4H bar not done yet. Btw, I'm focused on the daily. I'll get the true picture by NY close tonight.
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IvanLabrie moorekapital
USDCAD and EURUSD are more tasty than eurcad right now.
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ForceFollower IvanLabrie
Thanks for the comment.
Yeah, EURUSD may be on its way up to 1.125. As for USDCAD, I've got mixed feelings: I'm bullish about it but it doesn't look like it's got a lot of energy to go up.
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