haronbg

Waiting for long signal on USD/CAD

FX:USDCAD   U.S. Dollar/Canadian Dollar
70 0 0
The Canadian fundamentals are still bearish . Oil             is in the drain, as long as Oil             stays under 33 we still have bullish case for this pair. We have to be careful of too bearishness in the market. Puts for Oil             have surged to all time highs.
What and how to trade? We have to be aware of FOMC on Wednesday. Id FED hints that they have made a mistake USD will tank and everything else will rally. So if I will wait for a pullback during Asia and if tomorrow we have momentum during EU session I am going long this pair.

cheers
Comment: initiated long trade, we probably will not get the retracement
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