Forex Trading Strategy on Day $-Canada Nov 5th – 99.25-75 to Survive But For How Long?

June 9, 2011 by  
Filed under Forex Trading Strategies

$ Canada remains within 99.25 to 1.0850 consolidation and thereforewhile 99.25 holds it maintains the concept of a reverse head and shoulders pattern for an eventual reversal through 1.0850. Indeed having completed a three wave and thereofre corrective decline to 99.75 the rally to 1.0370 should represent the first leg of a new recovery. The deep retest of 99.75 should therefore hold for a rally back through 1.0155 now to confirm a recovery at least 1.0515. The deep retest though does increase risk that 1.0850 will cap for an eventual loss of the 99.25 low for at least 97.00.

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4 Responses to “Forex Trading Strategy on Day $-Canada Nov 5th – 99.25-75 to Survive But For How Long?”


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