Loonie 123786?

Good Evening Traders

The EURAUD seems to have found some support at the RN/support level as price has been bouncing up and down today. This is common when price is faced with a psychological hurdle such as a RN - at least until either the bulls or bears take charge.

The EURGBP has continued south today with price almost tagging the VI. Now it's going to be really interesting to watch - will price bounce up at this strong support cluster to resume it's trend or will it continue with it's current bearish move? All eyes on this pair.

I wanted to talk about the Loonie this evening. Although over the past few months price has done a deeper pullback than I would have liked and the recent consolidation lasted some time, for me it's still one to keep an eye on.

I last wrote about this pair on Oct 21, where price has since continued to rally giving us what maybe a possible 123786. In an existing downtrend, this could only be a good thing for a continuation with the trend. Of course this pattern won't be confirmed until we see that BOB of the low, which is sitting in a fuzzy S/R zone. If price drops clear of this area we may well see price head south.














As always please carry out your own analysis and remember - don't ever second guess the market. No matter how much you think you might know a particular currency, nothing is definite in trading! Patience is a virtue.

Here's to SM trading!
Sonia Molina