~ Week Of March 6th 2017 ~
Published by Jay Davies - March 4th 2017
For close on 3 months the Canadian Dollar / Singapore Dollar currency pair was contained within a range, bouncing between the 1.09000 and 1.06600 price points. The 28th of February finally saw the value of the CAD drop through a key price area as highlighted on the chart below.
The market has now gone into consolidation mode and is tracking sideways. If we can see the key price area hold in the new trading week ahead and keep the value of the CAD contained below it, then a further move down is possible. If you would like to learn how to trade the market successfully and recognise what confirmation is needed prior to entry on such a trade, then I encourage you to have a look at my "Complete Forex Trading Course" and join the Currency Collective Community.