Maxmillian

USD/CAD ready for a nap?

FX:USDCAD   U.S. Dollar/Canadian Dollar
Bonjour,

Our members had a great trade in the USD/CAD             for the past two weeks ... and we've been following it up for quite some time, milking pips out of the market the whole time. But is it poised for a reversal? Well, the charts seem to corroborate that thesis ...

Most instruments that have completed a measured move (I view a 92%, and above, a completed move) needs to be re-evaluated before entering a new position. Remember that there "health" of this pair is still fine if it retraces to the 50% fib level before continuing its upwards trajectory.

Until then, we'll sit patiently on the sidelines and wait for the perfect opportunity to enter another trade.

À bientôt
Maxmillian DuPont
(www.myfxlifestyle.com)
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