Today there's major news events which we are expecting to compliment the Canadian dollar. As illustrated from my chart, I will expect a fakey break out towards north or in another word a market manipulation before deciding to bearish.
As always sell at highs and buy at lows, The market here has been pushed up by the smart money since they expect good news on Canadian dollars. Technical references; we can see the rsi making low highs and the moving averages are moving apart from each other indicating a likelihood of bears existing in the market,waiting patiently for a support.
the possible entry could be 70.7 or 78.6. its really up to your plan really. take caution
good luck and happy trading :)
As always sell at highs and buy at lows, The market here has been pushed up by the smart money since they expect good news on Canadian dollars. Technical references; we can see the rsi making low highs and the moving averages are moving apart from each other indicating a likelihood of bears existing in the market,waiting patiently for a support.
the possible entry could be 70.7 or 78.6. its really up to your plan really. take caution
good luck and happy trading :)
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