First, as you can see via the link below, I have some early feelings about WTI. As CAD is often considered as a "commodity ccy" with its performance somehow related to oil price, I started to think about the chances of some temporary CAD weakness.
Second, thing is that the recent USD correction has approximately reached all my original targets on most of the pairs I was looking at ( USDHUF , GBPUSD , EURUSD , USDTRY ) and of course on DXY as well.
So I thought I need to check what's cooking in the CAD charts, both ag EUR and USD.
EURCAD daily (left panel):
- Last time I warned about a reversal and called for profit taking on shorts was on 22/April ( pls see link below). Since then