FX:USDCAD U.S. Dollar/Canadian Dollar
I see that this pair will start heading south and my first target is 1. 1320 and then I will do some analysis to decide whether to remain short or to wait in the sideline to take a short.. I think we may not get further long this pair as Oil is seeming to bottom in near future which will benefit CAD.
Just curious how the low oil will benefit Canada? A lot of jobs will be lost just like US if oil stays low and many producers will become unprofitable if these low prices are sustained. Alberta itself is an oil boom province, low oil prices there will have devastating consequences on the over inflated housing market just like shale towns in US. I'm not debating your TA, just looking for insight as I am unsure. Thanks.