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.
Good point, now I want to be watching developments.
ReplyDeletegood pullback
ReplyDeleteWell spotted! I'll keep it in mind.
ReplyDeleteGood analysis, very helpful.
ReplyDelete