piphunters
Long

USDCAD: Buy opportunity

FX:USDCAD   U.S. Dollar / Canadian Dollar
1973 views
49
1973 11
The pair has broken out from a smaller degree correction to the up side and also broke an immediate downtrend, buying after a correction down looks good right now. The possibility of a major break to the upside is also now looking likely.

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I'm more inclined to a short in this one, I think the new uptrend in oil will help it. I always like to look at ideas opposed to check.
+1 Reply
USDCAD & USOIL are negatively correlated so, higher oil will pull this pair down, not up...
+3 Reply
piphunters Bintang
sorry my mistake it was bit confusing not to mention a turn expected in oil after small upside, around 43-45 it's expected to come down again I believe
Reply
Nice chart. I agree with more up. I have levels of strong resistance around the 1.34 area.
+1 Reply
piphunters nahidik
thanks, also take a look at oil, gonna carry this pair up.
Reply
TraderGleR piphunters
ummm no. Rising oil = lower USDCAD.
+1 Reply
piphunters TraderGleR
right...
Reply
oh i really not believe that buy option UC . The consolidation is more than clear ,
+1 Reply
we'll see
Reply
stream piphunters
this is a regular common answer , but the consolidation is finished , so suppose to know already ..

good luck
Reply
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