USDCAD

Good evening Dynamic Traders ,

Tonights analysis is for the Loonie.On the daily chart below, the price action looks like it is about to close in the parameters of your DD technique, and because of the recent swing low( Jan 6, albeit today has not finished) you have several ways of entering this as taught by your mentoring classes and webinars, however ,do be aware of the RN , but also the distance away of the Value index which strengthens the DD.

On the 4 hour timeframe below however, we have tagged a 123886 with divergences which contradicts the DD , therefore your entry is crucial if you wish to trade this pair. I am favouring the downside push but will wait to execute the trade when my entry is confirmed with my trading rules. Patience is the key to this one, so wait for your confirmation, and as always please do your own analysis and remember about the big news items tomorrow.

Charts courtesy of TradeStation.

Good luck with your trading,

Clayton Farnworth.