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 move vs USdollar
1.06 is next key support.
Moreover, price crossed through SMA200 : long term support . This confirms for 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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