Posts tagged downtrend
Trading Tip Number 1
Dec 14th
Here’s a simple trading system using only a 50 or 20 Moving Average (Exponential biased if you like) and a stochastic or CCI oscillator as it’s signal.
In an uptrend – defined by MA(E) 20 or 50 take only oversold reading (from an oscillator such as CCI or Stochastic) as a buy signal (can use the next overbought reading as a stop of trade if you like)
In a downtrend – defined by MA(E) 20 or 50 take only overbought readings as a sell signal (can use the next oversold reading as a stop of trade if you like)
USDCAD looking for a drop to 1.03
Dec 14th
After some intense rallying last week up to 1.084, usdcad is again continuing it’s downtrend (visible on the hourly chart) to the 1.03 support region.
Last weeks rally up was aided by better than expected US data. This weeks continuation of the down trend has been driven by strong cad data as well as an increase in Oil demand (of which cad is a big producer).
While 1.05 is not passed, we expect this pair to remain bearish until yearly lows are hit at approx 1.03 region.
