USDCAD Currency Pair Update Nov 7, 2018@12:50 pm ET
As of writing, November 7, 2018 @ 12:26pm, the CAD’s hammer against the USD is packing 0.17% punch while the USD’s hammer against the CAD is packing -0.16% punch. So, at this moment, the Canadian dollar is packing a stronger punch, which means that the Canadian dollar is gaining strength against the USD. So, traders can take advantage of this strength difference by buying the currency with the stronger upside momentum and selling the currency with the weaker upside momentum. These momentum strength differences change over time, however.
At some point, we will have to sell the Canadian dollar and take profits because we bought it early in the early stages of its upward momentum. So, it will soon start to give up all the gains that it has acquired during its uptrend. This is where our trading strategy comes in handy, telling us when to get the hell out of the market when its time, and don’t stay a second longer. We have deduced our opinion from observing the 1-hour USD/CAD and CAD/USD charts (both charts revealed the same signal).
We will follow this up with more detailed technical analysis.
Please click here for the full article.
At some point, we will have to sell the Canadian dollar and take profits because we bought it early in the early stages of its upward momentum. So, it will soon start to give up all the gains that it has acquired during its uptrend. This is where our trading strategy comes in handy, telling us when to get the hell out of the market when its time, and don’t stay a second longer. We have deduced our opinion from observing the 1-hour USD/CAD and CAD/USD charts (both charts revealed the same signal).
We will follow this up with more detailed technical analysis.
Please click here for the full article.
