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USDCAD: Trading at a LT resistance level

The USDCAD is trading at an important LT level:

USDCAD

USDCAD

We need to wait for the market to break either side of the range, then we’ll start looking for a trade opportunity.

My Plan:

If the USDCAD breaks the ST resistance level, it will trigger a bullish market condition and I’ll be looking for long opportunities.

If the Canadian Dollar breaks the ST support level, it will trigger a bearish market condition and I’ll be looking for short opportunities.

Trade Safe!
Raul Lopez

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This entry was posted on Thursday, January 28th, 2010 at 5:43 am and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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