- Rejection at 200sma on the daily - Chuvashov fork break - Rejection at 38.2% fib - CURRENT weakness in the USD - Oil has a negative correlation with USD/CAD. Oil is currently trending bullish.
Possible supports: - 200sma on the 4 hour - Ichimoki cloud on the daily - 23.6% fib retracement on daily
My first profit target is 1.29863 or the bottom fork/trendline, whichever is higher. A break of that and I aim to target the low of 1.24616 with a trailing stop loss.