USDCAD negative USOIL correlation!!

FX:USDCAD   U.S. Dollar / Canadian Dollar
139 3 7
I have read on line & verified per 1 DAY USDCAD             & 1 DAY USOIL             chart that it TRUE, about the negative correlation. The reason this pair is a COMMODITY related pair is CANADA economy is highly dependent on its UNITED STATES southern neighbor and exporting OIL             to it's country. Around 70 percent of all of Canada's OIL             is exported go to USD.

Please look how the USDCD chart and USOIL             chart--- you could print this chart out & fold the paper in 1/2 (half) and both side's would match up. *NOTE: When USOIL             goes up USDCAD             pair will go down & versa versa.

The personality of USDCAD             pair and USOIL             negative correlation you should keep in mind. Good Luck Trading!!!
I agree with your premise but I don't see the correlation anymore starting May 2016.. probably because the US Dollar printed a low and is currently in a bullish intermediate trend which will push all the way up to the Brexit. What do you think Anbat?
Anbat Nightstar
When price action of USOIL & USDCAD are close together they are in the YELLOW area of stop light (not Green or up & not Red or down). Both are in a neutral or 50% area & close to a major SUPPORT area on charts-- so that is why both price actions are close together. Once a TREND is obvious, then both price actions will REVERSE each other again.
I understand but.. I was just pointing out the fact that OIL and USDCAD (as of May 2016) are now moving together in the same direction and are no longer trending opposite one another. Long story short: They are no longer correlated ;)
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out