Tuesday, March 31, 2015

USDCAD Price Action - Pin Bar

The USDCAD is trading in a range between 1.2800 and 1.2400 since it reached a five year new high. On Tuesday the pair rejected the resistance area forming a Pin Bar. According to Price Action, a breakdown of the candle could be an opportunity for a sell in the short term. Pay attention, however, to Wednesday US data release, especially to Non Farm Employment Change and to ISM Manufacturing PMI.


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