Of course it is a bear flag on the weekly and it's taking an incredibly long time to break. Will it break down? Nobody really knows since usdcad is smacked between a strong dollar and crude that wants to go up but cannot.
Sometimes needs to change. Otherwise, it will continue ranging. I hoe for another long term trend and 2017 might not bring it with volatility.
I expect, but not depend, on the reality that OPEC members will be unable to hold back production. I remind myself of the 70's embargo that brought them together and know they could be that strong. Nobody knows. Time will tell.
I am bullish DXY because the 50sma and 200sma on its monthly chart tell me it is bullish for the longer term.
For now, I can only scalp usdcad, one of my favorite pairs.
will the existing channel become the new trend line on monthly chart?
Trade safe and gl.
Sometimes needs to change. Otherwise, it will continue ranging. I hoe for another long term trend and 2017 might not bring it with volatility.
I expect, but not depend, on the reality that OPEC members will be unable to hold back production. I remind myself of the 70's embargo that brought them together and know they could be that strong. Nobody knows. Time will tell.
I am bullish DXY because the 50sma and 200sma on its monthly chart tell me it is bullish for the longer term.
For now, I can only scalp usdcad, one of my favorite pairs.
will the existing channel become the new trend line on monthly chart?
Trade safe and gl.