Loonie back at support

Good Afternoon Dynamic Traders

I hope you're all having a great trading week so far! Nice to see the sun back again in London.

Today's chart is the Loonie - a favourite pair for the bloggers. As you can see price is currently in consolidation after a big move down. We have a support area around the RN which has been tested before without success of breaking. What will happen next? Will price find strength to breakthrough the support or will we see another bounce up, continuing the current breather? Whatever the case, this is definitely one to keep on the watchlist.

There is high impact news out this afternoon which may affect this pair. Be patient, be prepared and wait for the market to show its hand. As always carry out your own analysis.

















Here's to great trading!

Sonia Molina