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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