The Canadian Dollar.

Good evening all,

As mentioned many times in the past, patience is very important in trading especially with trying to just do trend trading, and with times at the moment good opportunities are not coming along too often and this could be a time to sit on your hands.

Todays chart is of the CAD which although in a downtrend is currently at a good fibonacci resistance clustered with former support.

If this point is broke for a continuation then appropriate entry techniques could be employed for entry, but with things standing at the moment, a consolidation,retrace or reversal could be on the cards, and so wait for direction.

As always please ensure to do your own analysis.

Good luck.

Clayton Farnworth.