8 Sep 2014

USD/CAD BREAKS THE DOUBLE BOTTOM NECKLINE





USD/CAD DAILY

After breaking the falling wedge, the rate retraced lower -  forming a double buttom formation, and today it broke it's neckline at 1.0915.

As I already took a small long position on wedge breakout, I am entering with full position today at 1.0943. My stop is still at 1.0800 and my targets are 1.1050 and 1.1250.


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