Day trading strategies on USDCAD 10-24-2016 by AzaForex forex broker, working your way through the forex maze

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US dollar exchange rate started to rise in the Forex market. The growth of dollar can be seen on many currency pairs in relation to other currencies. The currency pair of US and Canadian dollar was previously famous for traders as a very volatile and trending tool. You could catch a good move to 700 points in a few days. But then, the pair went to the lateral movement, while losing investors and traders that loved to speculate with it. Now is the currency chart we see good move, which can again turn into a powerful trend. If the price will break the immediate resistance level, it can easily pass the 100 points, thus aggregate the profit on the trading account of forex broker. Later, after reaching the expected level, it will be possible to reconsider the position. If the trend character will be normal, without any confusing situation, it will be possible to stay in the long position, or add a new deal to the existing open position. So we continue watching the evebts development on the waves of currency fluctuations.

The price is above a simple moving average 200 MA and 20 MA indicating bullish trend.
The MACD trend indicator is above zero level now, indicating bullish movement.

If the resistance level is broken you can use the following recommendation:
•    Chart timeframe: H4
•    The trade recommendation: Buy
•    The level of entry into long position: 1.3360
•    The level of profit and close the position: 1.3460 (100 pips)

Metal GOLD 
Possible bearish movement in the breakdown of the support level 1260

Forex currency pair GBPUSD
Possible bearish movement in the breakdown of the support level 1.2160

Forex currency pair USDCHF
Possible bullish movement in the breakout of the resistance level 0.9970

Forex currency pair EURUSD
Possible bearish movement in the breakdown of the support level 1.0850