Monthly Trend Shifts Higher for USDCAD
The direction on the Monthly USDCAD chart shifted higher on yesterday’s close, to join both the Weekly and Daily trends in pointing higher.
In the chart below we see price above its Monthly – maroon – Weekly –white—and Daily – yellow – Directional Lines.
Monthly trend shifts can prove significant events, as we saw at the end of May in the U.S. Stock market and AUDUSD – see: http://www.forexfactory.com/news.php?do=news&id=238960
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Jay Norris is the author of Mastering the Currency Market, McGraw-Hill, 2009 and a principal in Trading-U.com. To see details of Trading-U’s intermediate level trading course go to Course Work
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