Loonie still up for the fight.

Good Morning Dynamic Traders.

What an interesting day the loonie had yesterday. The large red candle we were met with yesterday morning is no more, and closed 1 pip from where it started. This is showing that the price is not ready to give to up, and could be trying again to break out of the range.

Below I have used a 15 minute chart to help explain the events of Tuesday. I have marked the candle sticks for Tuesday and you can see we have divergence and convergence on the MACD (marked out in green arrows), these are indications when price changed direction.














On the hour chart below we have 5 reversal candle stick formations, which also indicate to us when price is changing direction.














Today could be an important day for the loonie to see if it does have the potential to finally break out of the range, but from looking at some of the indicators this morning is the fight taking its toll on the loonie?
Only time can tell.

Till tomorrow,

Happy Trading