The USD is pulling back, the USD pairs uptrends are taking a break, and USDCAD is no exception.
Economic numbers are not that bad and investors are being a little positive, but haven't we heard this before.
Until proven otherwise this is just a pullback.
The Canadian dollar is also remaining weak even with expensive Oil.
And Oil price chart is looking like your typical distribution/complacency phase.
CAD should get even more weak when and if Oil goes down down down down down.
And this absolute monstruosity sure loves to drop violently
Expensive Oil makes it hard for businesses to run.
Therefore:
Price go up => Economic slowdown/crash => USD rally => USDCAD go up
Price go down => CAD crash => USDCAD go up
Price stagnates => Just like trucks, the trend continues as long as no opposing force is applies => USDCAD go up
CheckMate.
It could go very slowly, or it could go very fast. I wait and try not to fall asleep.
I found out I have a pathetic tiny position anyway so I do not really care.
Trailing with 3-4% seems to make most sense to me.
Who knows, maybe the pyramid scheme just implodes regardless of money printing.
And then USD goes vertical at least for a few weeks to months, before the end of the world.
Good luck to everyone.
Economic numbers are not that bad and investors are being a little positive, but haven't we heard this before.
Until proven otherwise this is just a pullback.
The Canadian dollar is also remaining weak even with expensive Oil.
And Oil price chart is looking like your typical distribution/complacency phase.
CAD should get even more weak when and if Oil goes down down down down down.
And this absolute monstruosity sure loves to drop violently
Expensive Oil makes it hard for businesses to run.
Therefore:
Price go up => Economic slowdown/crash => USD rally => USDCAD go up
Price go down => CAD crash => USDCAD go up
Price stagnates => Just like trucks, the trend continues as long as no opposing force is applies => USDCAD go up
CheckMate.
It could go very slowly, or it could go very fast. I wait and try not to fall asleep.
I found out I have a pathetic tiny position anyway so I do not really care.
Trailing with 3-4% seems to make most sense to me.
Who knows, maybe the pyramid scheme just implodes regardless of money printing.
And then USD goes vertical at least for a few weeks to months, before the end of the world.
Good luck to everyone.