Here's a quick update on my paper trade in forex for USD/CAD. USD/CAD touched 1.0845 yesterday and dived back down. It is trading at just below 1.0690 now. I moved my stop higher to 1.0648 yesterday as USD/CAD broke above the short term trendline (Figure 1). There's not many pips separating the price and my stop, so there's a good chance that my stop will get gunned down. As can be seen from Figure 1, the resistance is at 1.0770 and support is at a recent low of 1.0585. The current trend is also pointing downward.
[caption id="" align="aligncenter" width="580" caption="USD/CAD 60-minute"]USD/CAD 60-minute[/caption]