Daily TL support may help the Cad ST if it holds up.

FX:USOIL   CFDs on Crude Oil (WTI)
120 5 2
Daily TL support may help the Cad ST             if it holds up. A break will be significant
and give nice opportunity to short the Cad.
Thank you, very interesting and tutoring.

What's your opinion on the mechanism of CAD/WTI correlation? Is that Canada oil-producing country?
I apologize for using wrong 60-min scale on the graph. Here is the correct one:

You are right, most of the time the correlation is negative.

What are you saying by vertical blue lines? That corresponding maximum and minimums can be shifted in time?
I picked some extremes (not all) to highlight CAD weakness vs USD when US OIL weakness.
Correlation can be broken during shorter periods or less clear (decoupling) but after a while
it returns. Oilprice hasn't yet clearly broken lower. It has returned to that trendline. It reamains to be
seen if it was a false break out , in that case shorting USDCAD would be very attractive at this extended
level it is at.
I don't see any pattern of a correlation:
The overlaid chart is very compressed but still CAD has very good correlation with Oil.
You just need to look.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
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