FX:USDCAD   U.S. Dollar / Canadian Dollar
191 4 5
USDCAD             is showing nice bullish price action and I am looking for way higher values there. What I would like to point out is the BLUE trendline . It not just a regular trendline! It is from the weekly/monthly chart and it held for 11 years! Now we have tested it 3 times and I suspect that the 3rd test, on Friday, was the last one. From here on, I am expecting a trip to the Moon (read: new highs!). Time will tell if my optimism is justified.
i also entered a long position yesterday on the basis of the same trendline. your optimism seems justified. hopefully a good retail sales report will help usdcad break out of the downward sloping trendline it is likely to touch at 1.0940.
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capitalpropertiesfx adityachhabra9999
true - retail sales, if positive, should be enough to break that downward trendline and looking at the current price action, its seems that the market is positioning for some good data.
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adityachhabra9999 capitalpropertiesfx
yes. and the expectation is very low. only 0.4. in recent times, us data has exceeded expectations. hope it does the same today.
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capitalpropertiesfx adityachhabra9999
well, Retail Sales didnt do the job. But it doesnt change the game plan. Technically it is still very much valid setup.
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