Monday, August 31, 2009

Trade Update

Presently down in my US/CAD position. My stop is set. Now this from Action Forex:

USD/CAD's rise from 1.0790 extends further in early US session and the break of 1.1019 resistance indicates that rise from 1.0718 has resumed. The development adds more favor to the case that price actions from 1.1074 to 1.0718 are merely consolidation to rally from 1.0631 only. That is, such rise is still in progress. Break of 1.1230 resistance will confirm this case and all affirm the case that USD/CAD has bottomed out too.

Funny how this came out way after Bob's recommendation.

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