The USD/CAD pair is coming to life again

Forexmentor.com Forex Trading Price Action

It looks like the USD/CAD pair is coming to life again. The weekly chart is displaying a spinning top, the 4 hour chart has MACD trending up to the waterline above its trigger line, MACD is still trending up on the 1 hour chart, and we’ve had a news rally.

The way to play this news rally is to place a buy stop at the upper reaches of the run-up in price, and let the market take you in, should price advance further. The retracement we’re seeing in this pair was inevitable, given the recent fall-off in price.

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