The USD/CAD is in a freefall
Forexmentor.com Forex Trading Price Action
The Canadian dollar (USD/CAD) is in a freefall, with no immediate signs of a turnaround anytime soon. The EMAs on the 4 hour and 1 hour charts are all pointing to further downward priceaction – as are the EMAs on the 15 minute chart. As a matter of fact, MACD neutralization has taken place on the 15 minute, setting up price action for a further fall. Price has broken through the 50 EMA on the daily chart, and is now testing the 100 EMA. The 200 EMA could be its final resting place, but only time will tell. In the meantime, I have take profits on half of my positions, which is what I recommended you do a while back.
For more on forex tricks, tips and techniques, check out ForexMentor.com.
See latest sample AM Review at: http://www.forexmentor.com/sampler/
The Canadian dollar (USD/CAD) is in a freefall, with no immediate signs of a turnaround anytime soon. The EMAs on the 4 hour and 1 hour charts are all pointing to further downward priceaction – as are the EMAs on the 15 minute chart. As a matter of fact, MACD neutralization has taken place on the 15 minute, setting up price action for a further fall. Price has broken through the 50 EMA on the daily chart, and is now testing the 100 EMA. The 200 EMA could be its final resting place, but only time will tell. In the meantime, I have take profits on half of my positions, which is what I recommended you do a while back.
For more on forex tricks, tips and techniques, check out ForexMentor.com.
See latest sample AM Review at: http://www.forexmentor.com/sampler/
<< Home