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Began my month of Trader Contest with two minor losses in EURCAD and EURGBP, and a 23 pips profit in EURJPY Short. The former hit my TP target after hunting my SL. The latter rushed to my SL and it was very brisk.
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Loonie testing 1.30 again
Since topping out above 50.0% retracement of the H1 2016 downswing, Loonie has been making lower highs and lower lows, compressing against the strong support area between 2009 high (1.3065) and the big figure at 1.30.
Break and hold below the area would target 1.28 initially and then 38.2% retracement of 2011 - 2016 uptrend. 2016 low is near 1.2450. If the area holds again, 200 DMA will be the initial resistance and then 1.32 - 1.325.
Break and hold below the area would target 1.28 initially and then 38.2% retracement of 2011 - 2016 uptrend. 2016 low is near 1.2450. If the area holds again, 200 DMA will be the initial resistance and then 1.32 - 1.325.