Commentary on the USD/CAD

Forexmentor.com Forex Trading Price Action

I hate to dwell on the Canadian dollar (USD/CAD pair), but dwell I must. On Tuesday, I suggested you get into this currency regardless of whether or not we got the downtrend continuation pattern or not. The pattern did not unfold but, regardless, had you taken my advice, you’d be wearing a smile on your face today. This pair is on fire, and shows no signs of retreating any time soon. If anything, I see much higher prices.

It’s not often that you get such performance. The loonie is performing brilliantly – and making LOTS of money for me personally. I am NOT in a hurry to collapse my position(s) any time soon. Buy any and all weakness in an uptrend folks!!! Even if you’ve been sitting on the sidelines dreaming and wondering why, get off the couch and grab a position or two. It’s not too late, believe me. Today, price continued its advance, all the way up to M4 – the expected high on this M2/M4 day. Any hesitation at this level is just temporary.

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