We have seen CAD hot the monthly lows twice now after tapping at our minor 0.72 region. We can now see that there is an increase valuation with OIL therefore CAD will now look to have a delayed correlation with the commodity. From a technical aspect we can see very clean HH and HL formations as well as a convincing rejection from the 0.69 region. 5 Long positions have been already been taken and we will be looking to scale more positions in until our 0.74 target is hit.
Current Entry Point :
0.68500
0.68800
0.69000
0.69300
We will be holding this long term until our 0.74 target is hit with potential partial profit taking at 0.72
Current Entry Point :
0.68500
0.68800
0.69000
0.69300
We will be holding this long term until our 0.74 target is hit with potential partial profit taking at 0.72