Now that we're again at the trendline, can we expect the price to bounce off of it again? And can we not? The euro is still one of the strongest currencies, whereas the CAD is relatively weak. The trendline provides an opportunity of fresh entries for buyers. As the rule says, the trendline always works until... it doesn't. Or in other words, beat the trendline to death, until it dies. So it's possible we'll see another rally to 1.5. Otherwise there's going to be a trendline break and price will plunge to the low of 1.459.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.
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Disclaimer:
There is a very high degree of risk involved in trading forex. I assume no responsibility or liability for any trading or investment results. My posted statements and charts may unintentionally include inaccuracies. All content posted is for educational purposes only and is not a financial advice. The presented set-ups are not solicitations of any order to buy or sell.