Cabot101Management

The squeeze is on !!!!!!!!!! good enough for a 300 pips swing.

FX:USDCAD   U.S. Dollar / Canadian Dollar
156 4 6
Oil             is contributing to this move, right now the Loony is feeling it, we are looking to retest the
1.35-1.3550 areas.
This will come to a head soon and the direction will be a lot clearer, if it pops its head above the 1.3590 levels, then there's nothing in its way until the 0.618 fib line around the 1.38-1.3840 levels .
However if we squeeze and stall @ the 0.5 fib line and fail to break above it, and are forced out of trend line support, then that could be the trigger to send this down.

We are watching with complete infatuation !!!!!!!!!!!!!!!

We want those pips ......

Comment: Okay so we are waiting, as mentioned we are re testing the 1.3550 area, there looks to be strong offers @ 1.36, its also got to get above the 0.5 fib line @ 1.3570-80, so we will keep you posted .........
Soon enough things will get interesting

happy trading
Comment: Okay 1.3626 high of the day , its a new 6 month high and there is bullish activity with the USD gaining some momentum , Its not great for CAD as OIL is below $50 a barrell and the 20% levy tax on Lumber that's been announced, has also dampened the currencies hopes for now so if we close above the 0.5 fib then we could get the breakout we have been looking for , entering very soon

Happy trading people......
Thank you for sharing so much!! You're my favorite trader to follow! <3
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@JennEWhitney, very glad to hear it ;)
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OHHHHHHHHH.....Its getting exciting.
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@shafsworld, it really is ......
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