Good Evening Dynamic Traders
Hope you're all enjoying your trading week and progressing well.
The Loonie today has tried to continue climbing up, but the candle today seems to be failing the high. As mentioned, yesterdays candle tagged a fib breather level so we may now see a continuation with the downtrend. But we won't know if this possible bearish flag formation is complete until we see a BOB of the low, so patience will be a virtue for this pair, as the market could do anything.
The EURNZD on the daily timeframe has continued to oscillate around the recently broken support level, not giving us any real definitive move as of yet. But checking in on the 1hr chart, we may have a poss 123786. For the day traders this will be a good one to keep an eye on. The MACD has just crossed the midline and the current bar is nice and bearish. We may just see a continuation down should this chart pattern come to fruition. As always carry out your own analysis and consult your toolbox of strategies and rules.
I'll be unable to post any blogs for a few weeks now as I'll be out of the country, but you'll still have the great updates from Bijal and also insights from fellow bloggers on www.fxcps.co.uk and www.fxcps.eu.
Have a wonderful few weeks. Remember Dynamic Traders - plan those trades and always trade your plan!
Great trading to you all.