Kumowizard
Long

Loonie in trouble

FX:EURCAD   Euro / Canadian Dollar
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Weekly:
- Ichimoku setup is changing to neutral from previous bearish biased. Kijun is down to 1,4710. A spike above would trigger lot of stops
- Heikin-Ashi candle looks bullish again after two weeks of indecision. haDelta/SMA3 bullish cross above zero. NOTE: the week has just started.
- MACD is further up. Bears don't have much hope! EWO is ticking higher.

Daily:
- Ichimoku setup is turning bullish biased again as price spikes above Kumo cloud. However we need some more confirmation here, as the averages are all flat right now. So we need Chikou Span to climb above past Kumo and also minimum Tenkan Sen to start point up.
- Heikin-Ashi signal is bullish . Let's see if mkt gains more momentum above the cloud. We need to see green candles in a row, with higher highs. Bullish acceleration could come above 1,4620 and 1,4720.
- Volatility is extremely low, (See ATR and also reflected in flat Kumo structure), while all macro data from Canada has been extremely bad.
- EWO is still bullish

I think the only factor that still keeps EURCAD this low is the proxy trading on back of relatively strong WTI Crude Oil . Otherwise Canadian economy is in big trouble, so is BoC . I think Poloz will change language soon... more cuts, maybe even QE hints.

I open some longs with stop at 1,44.

Increasing bullish momentum at European close /US open!
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