Thursday, 12 September 2013

USD/CAD update

USD/CAD D1 chart

I moved my stoploss line below my entry line just to make sure if the price reverses, I will have some profit. Hoping for some more downward movement to hit my target profit above 1.0280 level. Both stochastic and RSI are now in the oversold area and can start a reversal soon. But MACD is still suggesting more downward movement. ADX is also supporting the current trend which is a bearish trend.

I'm still sticking to my initial plan that if price breaks the 1.0280 level, I will put a new short entry.

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