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USD/CAD up trend still alive
Monday, January 12, 2015 8:41
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Trend is bullish in 1 hour chart. Intraday support is present at 1.1728 price level. As long as price prints; higher highs and higher lows, I would be probably looking for buy trades. Since yesterday, the currency pair has printed a weak bearish leg. This looks like a start of a pull back in an up trend. If bearish candlestick closes below 1.1728 critical support level then up trend is going to end. In this case, I would prefer to stay out of the market and re-analyze the price action.
Source: http://www.fxinstructor.com/blog/usdcad-up-trend-still-alive
