USD/CAD analysis of the week (4h candlesticks)

By @ibtimes on

The break out of 1.0676 lead to a strong bearish movement towards the lower band of the bullish channel. We advised to cut long positions if 1.0676 was broken and to stay neutral thereafer. But, now that the correction occured, we will advise again to trade only long positions as far as the price is moving into its bullish channel. THe break out of 1.0676 will give a new buy signal. However, an exit of the channel will allow to trade short positions.

Join the Discussion