The Dollar strength from early in the morning today has brought EURUSD and USDCAD at important price levels where we could take advantage for a trade if the current weaker Dollar trend continues. The Dollar index is trying to break out of a bearish channel and above the Ichimoku cloud. A rejection here will push it towards 99-98.50….
EURUSD is close to channel support and important demand area of 1.0650-1.0620
USDCAD has reached the trend line resistance where I can see a good selling opportunity with tight stops above 1.3210.
Dollar trend remains bearish. We could soon see the Dollar reverse but we might also see another low. Since we are close to resistance and trend reversal levels, I like the risk reward for a short Dollar position with stops close by.
In my premium services I send sms messages to my subscribers with all the trades and orders I place with real money in real time under real market conditions. Losing or winning I’m open and sincere. No paper trading here. No magic signal service…no promises…only hard work.
Have a great rest of the day!!!