The USD/CAD has nowhere to go but up

Forexmentor.com Forex Trading Price Action

Last night, well before the London open, the 50x100x200 EMAs were all trending up on the 4 hour and 1 hour charts, and MACD on the 15 minute was heading up towards the waterline – with good angle and separation between it and its trigger line. I’m talking about the USD/CAD pair – my favorite of late. (It is making nothing but money for me.) Price came into today’s session and found support at the central PP, before it sought out its expected high for the day – M4 on this M2/M4 day – whereat it paused. Wherever you see major weakness with this pair, you should be buying, as it has nowhere to go but up – given the fact that the Canadian economy stinks right now, pardon my language. Sure, the economy is adding more jobs. Witness the headline in the Globe and Mail Saturday, January 6: “Slowing economy, more jobs – what gives?” But, you want to know something? The article goes on to say that nobody, including all the talking heads so-called experts, knows what that means. So, therefore, you have to resort to good ole fashioned technical analysis to keep your eye on the ball. All I see in the higher-level charts (weekly, daily) is a march to the moon. This trek is not over yet folks. Trust me! Of course, you’re all in this pair now as a long-term position trade, right? Please don’t say wrong, as I have been beating this drum since September, which is when I got in big time – having added to my position several times since then. It’s called, ‘Buy those dips in an up trend.’ Anyways, why don’t you just head on over to the members area at www.forexmentor.com and bask in the glow of all those trading goodies available only to our wonderful family members. See you at the top and at the bank. Ka-Ching!

See latest sample AM Review at: http://www.forexmentor.com/sampler/