A Loitering Loonie

Good Morning Dynamic Traders!

The Loonie continues to linger at a righteous resistance for over a week signalling a period of indecision and unrest.

Below is the daily chart for the USD CAD. (x refer BLOG 3 March)

Having fervently tested the figure, price has petered down to a previous horizontal in close proximity to a pertinent trend support.

Should price positively permeate this brace, we may see the start of an earthward trend, following in the footsteps of the stronger siblings.

A prudent observation of this pair may provide a prime swing opportunity next week!

Aggressive traders may wish to note the imminent news items due on this ominous Friday, before assuming a position.


USDCAD daily chart Advanced Get

Akin to the Loonie, I have also been pausing to contemplate my next move.

Dynamic Traders, once you have chosen and planned your personal journey, remember to pause for breathers at sensible stops.

This will allow you to regain strength and view the onward voyage with greater clarity, avoiding the risk of a painful fall.

Following an engagement with our mighty mentors' earlier this week, I recognised it is impossible to conquer a climb unless you break to re-fuel and re-design your onward march, not forgetting to reward yourself at intervals.

A gratifying weekend!

Saba Jackson