Saturday, March 2, 2013

USDCAD Daily: Closing Price Reversal 04/03/2013

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Though the overall trend on the pair is bullish, the pair has approached significant resistance at 1.0320. The candle formation at the close of the day (Closing Price Bearish Reversal) also confirms the expected pullback on the pair.

My recommendation: Sell pair from 1.0300

2 comments:

Pipsy's Trading Ace (PTA) said...

great job i have not been following the price action on this pair until now but i reckon there is still room on the upside(1.03643) however the momentum is weak we could see some selling into this week if 1.03030 fails protective stop should be at 1.03700

Ahize said...

Ive just looked at the charts and have noted your point. Thanks for the observation.