USDCAD - Daily - Watch the breakouts.
So I have slightly widened the downward channel lines. Now it looks even better.
We are at a very interesting point right now. We've got a lot of key levels and possible breakouts to both sides. It is quite difficult to make a call here, apart from watch the breakouts!
You could, potentially, set yourself some BUY and SELL orders outside of the channel, because if we will suddenly get some market driving news (like the US NFP or the CAN Labour Productivity on Friday), then we might miss a good trade. But that's for more risky people. For the more cautious, you can observe what it will do and then once it has settled on the direction, you can attack!
As always, keep an eye on the price action!
We are at a very interesting point right now. We've got a lot of key levels and possible breakouts to both sides. It is quite difficult to make a call here, apart from watch the breakouts!
You could, potentially, set yourself some BUY and SELL orders outside of the channel, because if we will suddenly get some market driving news (like the US NFP or the CAN Labour Productivity on Friday), then we might miss a good trade. But that's for more risky people. For the more cautious, you can observe what it will do and then once it has settled on the direction, you can attack!
As always, keep an eye on the price action!
Comment:
08.06.2017 UPDATE - This is working out nicely.