The USDCAD price action is misbehaving Sometimes you have to deal with it. ...Middle East

Today, the USDCAD initially moved lower using moving averages as topside resistance. In the early US session there was a spike higher which took the price above those moving averages (see higher blueline currently chart below). That should have been more bullish and sent the price higher. Instead the price break failed, and the pair has since rotated back to the downside.

Last week the price tried to extend to the downside not once but twice and each chart failed to remember the break failed. Misbehaving.

Sometimes you just have to deal with at misbehaving of a market, and just take clues from failures. Ultimately even the most misbehaving children can get in line and learn. That is how I feel about the USDCAD price action.

This article was written by Greg Michalowski at www.forexlive.com.

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