Greetings Fellow Traders,
Small update for those looking at USDCAD - We did have a clear signal for a trend continuation from the last post to go long...since then that momentum has for the most part seemed to have stalled. As it's been consolidating the last several days we're beginning to see that critical point where the market has to make a decision to maintain current sentiment.
To the top side you can see 3 attempts at the 1.40000 level all rejected...on the bottom side the trend has maintained it's strength and we're currently looking at closing figures below 1.3920 to initiate the bears.
We've lost momentum on the drive up to 1.40000 however, posting a new high should add strength should it happen. Otherwise remain patient and wait for the confirmation that the current swing's strength is faltering.
Please do your own analysis before entering a trade. If you like what you see comment/like/follow.
Small update for those looking at USDCAD - We did have a clear signal for a trend continuation from the last post to go long...since then that momentum has for the most part seemed to have stalled. As it's been consolidating the last several days we're beginning to see that critical point where the market has to make a decision to maintain current sentiment.
To the top side you can see 3 attempts at the 1.40000 level all rejected...on the bottom side the trend has maintained it's strength and we're currently looking at closing figures below 1.3920 to initiate the bears.
We've lost momentum on the drive up to 1.40000 however, posting a new high should add strength should it happen. Otherwise remain patient and wait for the confirmation that the current swing's strength is faltering.
Please do your own analysis before entering a trade. If you like what you see comment/like/follow.
Comment:
USDCAD Bull Strength really being put to the test today. Reluctance to drop is expected, 4 hour close already confirmed outside the trend line, daily close in 3.5 hours. Lack of Buyers is evident.
