This is another pair that's hanging around, not doing much of anything. I suspect this may continue through today with tomorrow and Friday providing some action but we'll see.
My long from 1.0444 is still on. The low yesterday was 1.0411, so it didn't quite take it out. It's sitting on an uptrend line from January at 1.0421. A decisive break below there would not be good for USDCAD.
Support:
1.0407/21
1.0367
1.0312
1.0245
1.0208/25
Resistance
1.0467
1.0500/06
1.0547/79/85
1.0636/44
1.0771/76/81
© Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.
My purpose in writing this blog is to show you how one trader, me, makes trading decisions and survives while trading Forex. One of the biggest problems I had when I first started trading was trying to apply the “rules” to actual trades. Another was the psychology—limiting losses and letting profits run. If you study my blog, you’ll see how I deal with both those issues. So my writings are not trade recommendations but rather educational in purpose. You have to decide on your own approach to trading. Remember that trading is risky.
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