3 Ducks Trading System | 18th Jan 2016

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    Captain Currency
    Captain Currency
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    Greetings Duck Hunters,

    Bulls tried but couldn’t get control this morning, looks to me like there’s a bit of profit-taking happening over on the Usd.Cad pair. If you’re already long this pair you might want to start thinking of moving your stop-loss up and locking in some profit.

    What I’m thinking is, will we see buyer re-entering if we get pullbacks to lower levels, I think we will. I’m still bullish on this pair, 1st Duck (4hr chart) won’t allow me to be any other way …

    That 1.4400 area of past resistance (highlighted) could become future support (if price drops that low), a spot where buyer might try and get long again, buying the pullback!

    Usd.Cad 4hr chart

    Fundamentally, Bank of Canada interest rate decision this Wed coming (20th). Will they be bold and cut rates in the coming months – low oil prices ain’t helping the Cad – somebody might need to do something quick …

    Good trading to you all for the week ahead,

    Andy
    Captain Currency

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