We have a nice setup in the making here. With oil
looking ready to break down hard, I favor AUDCAD
longs, (as well as CADJPY
longs, perhaps GBPCAD
), I do like AUDUSD
, but I'd rather pass on the long there for now and focus on AUDCAD
at this time, with risk of the risk on pairs suffering losses in the coming 2 months.
You can enter longs at market, or on a slight retracement with stops under the recent swing low.
I have no tp, just looking to rejoin the uptrend.