The Canadian Dollar is loosing steam, for some reason is losing value across the board. Maybe bc oil apparently has peaked and now is turning over. I opened a long position last week on NZD/CAD but I think this pair looks better, EUR/CAD looks good too, even USD/CAD. It could take a few more weeks to break out. Keep adding at every pull back. CAD is the new Yen.
SL if price action turns bearish: lower lows.
SL if price action turns bearish: lower lows.
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Is setting up a possible break out:
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Broke out the 6 years downtrend line:
