Taking a look at the current hourly charts, there are a number of currency pairs that are between what I consider good support and resistance levels. Many are trading in between the 100 hour MA and the 200 hour MA. This is indicative of a market which was trending, is now correcting, but which cannot make up it’s mind whether to continue the correction or continue the trend.
For the USDCAD, the price is in a bull flag formation with key support against trendline, fibo and MA and upside resistance against trend line.
What to do? Trade the range but look for the break with momentum.
EURUSD
USDJPY
AUDUSD
EURJPY
USDCAD
USDCHF
