Oh CANADA I so much want to be a buyer - But it just never lasts. As of today's close we could not be closer to the save point. 100DMA, Recent ST Trendline
, Leading edge of the Up Trend Cloud all here to save the day. It is tough to sell, my trading view at this stage is to play any swing momentum buys, with Oil
always in the mirror a 150 pip drop to 1.28 cannot be ruled out. For the coming week I do not think we would venture lower unless you think Oil
goes to $55 for the last bit of Summer driving season. On the topside 1.32 and 1.33 should be the zone to sell.
Cycle work has a BUY date on August 23, give the moves so far a downward drift of Bottom fishing and Top Casting should be the fair.