Commentary on the currency pairs

Forexmentor.com Forex Trading Price Action

The USD/CAD pair continues to take flight, and you will notice that significant buy points occur in and around the London open at 3 am ET. In other words, buy the dips in the uptrend, as evidenced on the 15 minute chart. On other fronts, the Kiwi and Aussie are trending down. The pound and the euro have topped out in concert with COT data. And, the following pairs have tanked majorly: EUR/JPY, CAD/JPY, GBP/CHF, EUR/CHF, and GBP/JPY. Sell those rallies folks.

The two golden rules in trading are: buy the dips in an uptrend, and sell the rallies in a downtrend. The only other thing you can do is scalp and to that end, two great traders at www.forexmentor.com have come out with an online course on that very topic. Check it out.

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