USDCAD Long off Support Trendline Long

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Jan 8, 2017 4:34 PM

Once again we have price making contact with the support trendline of the channel as seen above.

I am waiting for a bullish candle on the daily TF to confirm my long position.

Blue arrow shows approximate target, slightly lower than 1.3581.

Comments

madsroland

⋅ Jan 8, 2017 4:49 PM

I'm short until 1.31500 then long.

MtxTrader

⋅ Jan 8, 2017 8:03 PM

@madsroland, I see that too, that's why I'll probably buy after it rebounds off that area

madsroland

⋅ Jan 8, 2017 8:05 PM

@nikitafen46, After looking a bit more into the charts I suspect it to fall even further down. I'm not so sure it will go up after all. Let's see :)
Happy trading!