The Loonie

Good Morning Dynamic Traders

It's already Friday and what an interesting week it's been in the world of trading!

Let's take a look at the Loonie again. I had mentioned this pair almost a month ago now and price continued to be squeezed and has now finally broken down the 2 month long range/support area/10600 area.
















But what will happen now? We are still in the vicinity of the RN comfort zone and we can now see MACD converging. So could we see some further indecision/consolidation before a possible continuation down? Looking at the overall price action we can see the trend is down - despite the deep pullback in June it's still a good looking trend.

Gather your confluences and it's also worth looking at HTF's to make a fair judgment on this chart. Remember to always carry out your own trading analysis.

Enjoy your weekend!

Sonia Molina