USDCAD down is the way to go but how?
USDCAD might have not benefited from the strong move of OIL as expected but we believe it is still headed south for the near term. Pair might be on its way to complete the H&S pattern.
2 reasons; corrective move of DXY to the downside and our expectation that OIL price has more room upside.
2 ways to trade this; wait for the pullback from the support area, or sell on the breakout of the trendline. We will update accordingly.
2 reasons; corrective move of DXY to the downside and our expectation that OIL price has more room upside.
2 ways to trade this; wait for the pullback from the support area, or sell on the breakout of the trendline. We will update accordingly.
Trade active:
breakout is on its way and the daily candle looks good for now. We will now try short from 1.3235-1.3260 area targeting 1.30. SL 1.3360
Comment:
move stops to BE