SignalSwiss

USDCAD: HARMONIC IN DEVELOPMENT

Short
FX_IDC:USDCAD   U.S. Dollar / Canadian Dollar
2325 views
59
Strong daily resistance at 1.3530, we are not sure, but if we'll be luky, the price action will break it.

MONITOR CORRELATION:
- WTI (US OIL )



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Comment:
Comment: TODAY RISK EVENT:

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12:50 (New York Time): BoC Gov Poloz Speaks
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Comment: NOTE STRATEGY: If the price drops below "DAILY RESISTANCE", if you want, you can move the stop loss to breakeven.

Comment: TODAY RISK EVENTS
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10:30 USD Crude Oil Inventories 0.252M 1.177M
10:30 USD EIA Weekly Distillates Stocks 2.461M 3.051M
10:30 USD Gasoline Inventories 2.155M 0.135M
10:30 USD Crude Oil Inventories 0.252M 1.177M
=================================================

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Comments

likeness
Target and Sell Zone Range 1.3625

LIKE


+5 Reply
Nice Ideal !! :)
Reply
Poloz is overly optimistic as he has to support the plans of his newly elected gov't. If he is overly negative the party will lose credibility too early in their term. The larger risk event in my opinion is the API crude estimates later today and the EIA tomorrow. These will move oil prices and CAD moves in relation to oil as it is over 25% of the country's economic driver.
Excellent work though and look forward to the chart playing out as predicted!
+2 Reply
excellent post Link77!! thanks!!
Reply
Link77 SignalSwiss
No problem. I follow all your ideas and think they are very well thought out and always justifiable with good technical indicators. I am always glad to see a new idea from SignalSwiss! If you don't mind, can you send a screenshot of your chart settings? I have experimented with a blue background, but cannot replicate the eye-pleasing color you are using :)
Reply
we should also follow oil when trading cad
tnx
+1 Reply
stopped out...
Reply
simsekrecep IndonesiaBankTrader
I dont think so!
Reply
agree, a potential shark might form as well
Reply
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