Today my idea is focused on the USD/CAD pair, which has been on a since my last posting that will be fixed in this new article.
Projecting the price action of the "Pair" we notice that in the course of the day the Pair has been making new tops and bottoms up.
Around the price of 1.28000 / 1.28900 we have a region of much demand and supply thus allowing us a great opportunity to enter.
In the price action taking the last bottom down and leading to the current bottom up in the region of 1.28000 we have a that allows us a support of reinforced by the support of 1.28000 in which I feel safe, thus enabling me a purchase in this Pair for next week of 03/25/2017.
The last two days in which we can watch, we notice that the price is rejected the support at 1.2800 / level ascending. the closures occur above the region of 1.28900 which in my view and understanding is a broken resistance.
In the closing of the of 21/03, I believe that many players have positioned themselves in the wrong way, enabling the market today to get the stop-technique below the longwicks, thus confirming me once again that the market may have a growing from now.
Buy at the current closing of the Price with risk / return 1: 3.
Takeprofit and stop loss follow the technical criteria of the ATR indicator