Even though there are expectations for the DXY to gain little power, it is still not compared with CXY, Oil prices are going down and this is the main reason for the Canadian Dollar weakness. Global large producers of Oil went in a meeting to cut supply to increase oil prices. this will give strength to the CAD.
The technical aspect that we have a harmonic pattern, refer to the main source for the exact harmonic measurements and implication. I see the minimum target can be the green lines but it can drop further, the stop is the red line. trade with care.
You may need for RSI to go out of the extreme area before shorting, its your capital, its your choice. cheers
The technical aspect that we have a harmonic pattern, refer to the main source for the exact harmonic measurements and implication. I see the minimum target can be the green lines but it can drop further, the stop is the red line. trade with care.
You may need for RSI to go out of the extreme area before shorting, its your capital, its your choice. cheers
Trade closed: target reached:
the trade reached the target.