short the pair. USD weakness and relative Oil strength

Short

U.S. Dollar / Canadian Dollar (FX:USDCAD)

Updated

FX:USDCAD U.S. Dollar / Canadian Dollar

I am bearish biased towards USD. So I will be shorting USD against all majors until the 23 of June. Since the price is und the 20 daily emai hence the blue line I am shoring at supply areas. And the price is at one in the very moment

Comment:

Yellen spoke, market sold USD. Just sit tight and short USD on any occasion until the market proves you wrong and enjoy the slow death of Fed's credibility. How to trade the pair further on? Never sell in demand area, wait for a pullback to obvious supply. I would love to see some pullback to the 1.29 to open a second short position and target the 1.25 area. How low the pair will go, nobody knows. Trade between obvious levels.

Comment:

after nice down move I think the pair is due for a breather. Or maybe reversal, who knows. As long as the price is under the 20 daily short in supply zones. Possible short levels: 1.2160 is minor and is in daily demand area (sorry I do not know how to update the chart), I would bet a small sized entry. If that area does not hold then the 1.28sh are is proper for short play. Sit tight enjoy the market and do not rush into trades.

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