$USDCAD in between the “goal posts” as defined by the 100 and 200 hour moving averages
Written December 31, 2009 at 8:59 AM EST by Greg Michalowski
The USDCAD is sitting in between the 100 and 200 hour MAs. We define this condition at FXDD as being in between the “goal posts” . When this condition exists the market is thought to be in a period of transition as it decides if the next move is higher or lower. Watch the price action. Traders can buy dips against the 100 hour with selling below. Alternatively, they can sell against the higher 200 hour MA with buying on moves above. Look for momentum on the breaks.
The current 100 hour MA comes in at the 1.0469. The current 200 hour MA comes in at the 1.0531.
Categories: Forex Trading | Tags: USD/CAD
(Aug 30, 2010)
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