Focus on the USD/CAD…
We’re back to the USD/CAD pair today. Here I see us still in an uptrend long-term on the weekly chart, but still experiencing a short-term retracement southward.
The weekly chart is displaying what would appear to be a nice 1-2-3 bottom, all the while MACD at that level is trending up, from below the water line. During periods of retracement, you want to keep an eye on the lower level charts, as in the 15 minute chart, for good trading set-ups.
Today, for instance, we had the classic turnaround in price at the London open, after a swoon in price, from the conclusion of the Asian session. Price then headed up to the bellwether 200 EMA, where it was repelled. I see any weakness in this pair as a good chance to grab a long position trade, subject to proper TA technical analysis),and trade execution.
source:-
http://www.learnforexsecret.com/marketresearch/
