has reached the peak IMO
(see my last update remarks to Brent Oil
). A short while ago there was a strong down move in Oil
and this caused the jump that we see on this chart (see hand-mark). Today is the FED Rate day and I will try to keep away from any dollar related entry for obvious reasons. When the waters calm down, I will make a decision to enter USDCAD
long (or not). Personally I have some conviction and a good gut feeling that this is the very bottom of the USDCAD
and from this point on we shall see a healthy up move in USDCAD
. Time to get back into long for long term. Good trades.