Thursday, October 25, 2012

USDCAD Channel Trade USDCAD Short Trade
Pair USDCAD is moving in a descending channel. 

This channel has restrained the price moves since 22-Oct. Currently looks like price is getting down push after touching the channel's upper trendline. 

I went short right at 0.9942 for a possible move towards the channel middle area and 100EMA. But I will keep my size small b'coz I think USD will strength against EUR, GBP over coming days. 

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