TradingTechs

USDCAD Medium term Trendline break

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
63 0 14
USDCAD             managed to break the medium term trendline that acted as a springboard from October. As long as we get a close below the trendline we target previous swing lows at the 1.3379 area and then support at 1.3300-1.3266 area. Please have a look at the related idea for a longer term possible outlook. A close above the downward sloping trendline means trouble for shorts
Comment: Inside day formed yesterday. A break below yesterday's low or above yesterday's high should see some follow through for a day trade. Longer term levels are the trend line above and swing lows coming in at 1.3266
Comment: Broke Inside Day lows
Comment: USDCAD coming into area of support. Should be stops below 1.3265 (previous swing low)
Trade closed: target reached: Pre-NFP target hit
Comment: PA slowed down right inside the area of support. A clean break lower should target the lower bound of the channel
Comment: USDCAD tagged lower bound of the channel as discussed and bounced into previous support area(now resistance area)
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