Remember the YIN & YANG of USDCAD and USOIL. When one pair is up the other pair is down.
July (almost over) USOIL when from a high of around $50 to a low of $40, which is a major drop. USDCAD did opposite, going from a low of 1.28313 to a high of 1.32525. I believe that USOIL has now grounded out at around $40 a barrel.
Next month or August both will again make a big CROSS over with this pair on 4 hour USDCAD chart. At this time look at USOIL pair on bottom of screen ( light blue is down & violet is up)- last 12 hrs of trading was BULLISH, USDCAD pair (red is down & green is up) on top of screen was BEARISH. These pair will REVERSE themselves next month.
July (almost over) USOIL when from a high of around $50 to a low of $40, which is a major drop. USDCAD did opposite, going from a low of 1.28313 to a high of 1.32525. I believe that USOIL has now grounded out at around $40 a barrel.
Next month or August both will again make a big CROSS over with this pair on 4 hour USDCAD chart. At this time look at USOIL pair on bottom of screen ( light blue is down & violet is up)- last 12 hrs of trading was BULLISH, USDCAD pair (red is down & green is up) on top of screen was BEARISH. These pair will REVERSE themselves next month.