USD/CAD:
Date: 20 January, 2017
H4 Graph: Long term Trend, short term long trend
Price again started going up after finding a bottom around 1.3020/1.300. Price made a break of horizontal resistance at 1.33 and it came back to retest the break. Also the price is trading above the 50 and 200 ЕМА.
Price Action: Break up of a horizontal resistance - Possible signal for long.
DEM - In the overbought zone
Alternative scenario: If the price moves down again and passes below the horizontal support below 1.33 this will cancel the current setup.
Price for Entry long around: 1.32950
SL: 1.32400
Trader - S. Fuchedzhiev
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