UC has been consolidating in a discount range for sometime.
According to 40yr seasonal and COT data, commercial traders are shorting the CAD pair in an effort to hold currency strength gained from high crude oil prices.
Technical.
Market structure broke on the upside now waiting for previous day stop raid to present opportunities for entry.
Discard this analysis if dollar gets weaker.
Buy limit order @ 1.27055 SL1.26700 (35 pips)
According to 40yr seasonal and COT data, commercial traders are shorting the CAD pair in an effort to hold currency strength gained from high crude oil prices.
Technical.
Market structure broke on the upside now waiting for previous day stop raid to present opportunities for entry.
Discard this analysis if dollar gets weaker.
Buy limit order @ 1.27055 SL1.26700 (35 pips)
Trade closed: stop reached
Bias= correct
entry= wrong
SL=wrong
Click follow to catch my next trade ideas. if you don't like my setups click the follow button 3 times.