#USDCAD
USDCAD is going up quite a bit right now. The reason is that the OIL is slightly DOWN. Also, MARKETS RISK has been OFF again. And the US CPI data was very good. So now USD has become very STRONG. US RETAIL SALES DATA was also very POSITIVE. Because of that, yesterday's FOMC MEETING caused a 75bps rate hike. SENTIMENT related to USD became STRONG...
On the DAILY chart, price is being contained within the MIDAS R1 greed and fear curve as well as the T-Line. Going down the the 4 HOUR time frame there is a clear break to the downside in form of a bearish engulfing signal + a close BELOW the T-Line taking out the previous demand and closing below the 50 day MA, indicating that the bears have stepped in....
