Tuesday, July 24, 2012 — USD/CAD

by jennifer on July 24, 2012

USD/CAD:

1. Possible buy above the high, moving towards the previous resistance level.
2. RSI is just going over 70, which is bullish.
3. MACD momentum is fading…. See if it prints a taller bar when price goes over entry line.

PLAN:
1. Be ready to buy at about 1.0207 for 30 pips.
2.  Keep an eye on that MACD. It it continues to fade, abandon the buy idea.

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