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.
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.
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.
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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