USD/CAD has been very difficult to trade in the last few weeks. The pair has seen major ups and down day in and day out. This uncertainty indicates that market participants cannot come into agreement and this sentiment is driving the pair into highs and lows on a daily basis.
Currently, USD/CAD is gravitating towards 1.3287. So far today this is the third consecutive day of gains, but remains unclear just for how long it will continue in that direction.
From a trading perspective our market has been very choppy over the past few weeks... There has been a lot of false breakouts. This is why it's important to risk a small amount of your trading capital on any one trade. If you can navigate through the choppy times in the market you will do just fine when the market is in more of a sustained direction. I still believe there is a positive bias to the overall market, but definitely has been on the choppy side lately.
Chart: USD/CAD D1
The uptrend seems to be losing strength.
ReplyDeleteIt found some resistance at 1.3300.
ReplyDeleteThe move to the upside seems exhausted.
ReplyDeleteGood tips.
ReplyDeleteGood work, keep it up.
ReplyDelete