Sforex
Short

Loonie: If you want to stop bullish move of Loonie, stop ISIS

FX:USDCAD   U.S. Dollar/Canadian Dollar
352 1 6
USDCAD             finally test 1.0730

I am considering next step of Loonie.

Iraq tension still not solve soon, USA currently couldn't find any positive measure to stop ISIS             troops. As the result, Oil             price continues to jump up to 107; in my opinion, it could raise to 110 even 120 next months.

With raising of Oil             price, Loonie is supported significantly.

If market doesn't provide any lifebuoy for the Greenback, I think Loonie would keep its bullish move vs USdollar            

1.06 is next key support.

Moreover, price crossed through SMA200 : long term support . This confirms for bearish trend of USDCAD             .

If USDCAD             cross through 1.0730, I will hit SHORT position to 1.06 key support.

Hence, my strategy :

IF USDCAD             touches 1.07, open SELL position to 1.06 : 100 pips.

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