Loonie Lunges Further

Good Afternoon Dynamic Traders!

The Loonie has been down trending since March this year following weeks of deliberation, having enjoyed a two year ascent.

The weekly chart shows price currently debating the value index, which is fighting for recognition.

A host of resistances are sporting their colours very close by, promising to push this pair back to its established course.

Below is the daily chart for the same.

Seasoned traders will mark price seated at the trend resistance, whilst being bombarded by at least three other obstructions, forcing serious consideration for ensuing movement.

Note the value index in proximity, which may come into play, should this hefty hindrance across two major time frames succumb to this current lunge.

The 'edge' is doubtlessly in the favoured direction, awaiting the chosen strategy play.

USDCAD daily chart Advanced Get

Confident Trading!

Saba Jackson