USD/CAD Range. Will it hold?
USD/CAD is approaching its range top. It will be interesting to see if the range holds or we get a break higher this time. We prefer shorting at the range top. In case the range is broken targets will be the 1.03 region.
Not issuing any trades here. Watching price action.
Comments
Miroslav Boshnakov 381 days ago
The downtrend is channeled to a range of resistive tops which is good Sell signal. Also the first down-move can be less long that I've write on the picture, than the up-side one... Interesting...
Luv Sharma 381 days agoThanks for the feedback buddy. Looks like the short side is playing out well for the time being. NZD/USD pattern also suggests a temporary bounce in commodity currencies which should also support the short trade.