Friday 17 April 2015

Is This The End Of The USD/CAD Movement To The Downside?





I am so glad to have been paying more attention to the USD/CAD pairing lately, because if I had not, I would have missed those doji and hammer candlesticks on the daily filter at the resistance at 1.2570, as well as its break below the support at 1.2380. Thankfully, I did notice these things on time and I managed to open short positions before the movement to the downside began. The question is, has it ended? The pair reached the support at 1.2230 on the weekly filter chart and even managed to break below that level, but then it returned to its previous level above it. I, personally, think it is possible for the pair to continue falling until it reaches 1.1900, or perhaps even 1.1700.

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