Thursday, September 30, 2010

USD/CAD Continues Range Bound

In September, USD/CAD got stuck in a range between 1.0200 and 1.0350. See the chart below.
Some traders may find it difficult to trade but we think it's easy to trade when prices are stuck in a range. We did few profitable trades by taking the advantage of this move.
We bought when price moved to the bottom range and sold when the price went close to upper ragne.
USD/CAD is in breakout watch. We are waiting to see a break above 1.0350 or below 1.0200.
That might happen anytime soon.

Visit Us: Global Fx Signal

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