USD Look to go long on retracement to 50EMA Long

U.S. Dollar/Canadian DollarFXCM

Description

⋅ Aug 23, 2014 10:33 PM

USDCAD Price action stuck under the Fib 50 level
Fib 38 level provides strong support, there's also confluence with 50 EMA
Wait for price to retrace to the Fib 38 level and look for a Long signal (e.g. pin bar) on the lower timeframes (1H or 4H)

USD (US Dollar)Fibonacci Retracement