Commentary on the USD/CAD
Forexmentor.com Forex Trading Price Action
The USD/CAD pair is in a decline, if you believe in Top-Down Analysis. MACD is heading south on the weekly and daily charts – below its trigger line, in both cases. And, the 200 EMA is trending down on the 4 hour and 1 hour charts. Price is consolidating on the 15 minute. Translation: expect further weakness in this pair.
You may recall that I liquidated my positions in this pair recently, and that was a good thing. Right now, I’m sitting on the sidelines, waiting for a good set-up in some other pair. I feel I have milked this one for all its worth and I’m not greedy. It’s time to take a rest, and look for that next opportunity. Position trades don’t come around all that often, but they are well worth the wait. To that end, you will find information on that type of trading in the members’ area at www.forexmentor.com.
See latest sample AM Review at: http://www.forexmentor.com/sampler/
The USD/CAD pair is in a decline, if you believe in Top-Down Analysis. MACD is heading south on the weekly and daily charts – below its trigger line, in both cases. And, the 200 EMA is trending down on the 4 hour and 1 hour charts. Price is consolidating on the 15 minute. Translation: expect further weakness in this pair.
You may recall that I liquidated my positions in this pair recently, and that was a good thing. Right now, I’m sitting on the sidelines, waiting for a good set-up in some other pair. I feel I have milked this one for all its worth and I’m not greedy. It’s time to take a rest, and look for that next opportunity. Position trades don’t come around all that often, but they are well worth the wait. To that end, you will find information on that type of trading in the members’ area at www.forexmentor.com.
See latest sample AM Review at: http://www.forexmentor.com/sampler/
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