USDCAD Has in the past couple of days broken past the 200EMA daily, very bullish sign would anyone agree? Since MAY its tried to do this a number of times. Once succeeded its now pulled back to what i percieve as pretty strong support: the price area that used to be strong resistance, the 200ema daily, the 21 ema weekly, previous highs.
I plan to enter long if i get a good set up!
Look forward to your comments and analysis.
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Didnt yet get a setup to enter long yet on this pair as price carried on lower than originally anticipated. However, next available support looks to me at this pretty reliable daily trendline, could be an even better price to get long. Lets wait and see and obviously employ your own tried and tested entry strategies.