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IkanBilisCapital

Failed breakout for the USDCAD, waiting for the next one

Long
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
IkanBilisCapital  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Chart Patterns Technical Indicators USDCAD usdcadshort usdcadforecast usdcadlong usdcadanalysis usdcadsell usdcadbuy usdcaddaily usdcadsetup
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trendanalysis chartpattern indicator usdcad usdcadshort usdcadforecast usdcadlong usdcadanalysis usdcadsell usdcadbuy usdcaddaily usdcadsetup
The dollar cad finally broke out of its consolidation range this week but fell straight back into it later in the week. It is now trading at the bottom of the consolidation range again and we will be looking at a long entry. It is less likely that this coming rally will be a fake out since, the institutions already caught some fish the last time round. These levels are good for a long but we could move down farther from here to take out some longs at 1.263.
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