Monday, July 09, 2007
Forex Day trading system : Major bottom in USD/CAD
Forex Day trading system : Major bottom in USD/CAD
The currency pair of USD/CAD is showing major resistance at the present levels. 1st there was a very bullish candlestic on a 1 hr chart last week and now today the forex pair bounced up again from that level.
What does this mean? This means that currency pair bounced from a level, tested it again and then bounced again. Remember it didn't stabalize there. it bounced. So, this is a good opportunity to go long on USD/CAD.
Look at your forex trading systems and then accordingly place the trade.
Meanwhile how many of you traded the last NFP ( Non Farm Payroll ) news? What was your experience?
Thats all in this session..Visit again to learn more.
Labels: support and resistance, USD/CAD
