Short Term Trading forex trading links forex trading books market statistics trader values euro and us dollar Shocks Crashing Short term trading: ++USD/CAD, May 2012

Friday, 4 May 2012

Short term trading: ++USD/CAD, May 2012

++USD/CAD at 1.0065, stop-loss at 1.0010, target at 1.0075 or MOC. The market is above the 50 MA. Seasonal components are dollar supportive. There is a divergence between the price and the RSI indicator. Finally, speculators are massively short the US dollar/long the Canadian according to the COT report. A breakout the longer-term resistance line could lift the price higher.

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