Jwaring

Jwaring Updated 

Consolidation towards 1.4000 evident on the 4H chart. No position opened yet, waiting patiently for a firm move above/below channel. Break above - Target 1.4300 Break below - Target 1.3810 Eye on fundamentals as always. Cheers,

Jwaring

Break of downward channel in the hourly chart. Pull-back bounced off of channel showing support, wondering if this means we shift upward. SL and TP as shown - SL just inside channel, attempting to avoid a premature stop. Eye on WTI, Brent, Upcoming news. Cheers

Jwaring

REPORTS OF GLOBAL OIL SUPPLY INCREASE (IRAN SANCTIONS LIFTED) HEAVY INFLUENCE FOR CAD + BOC TO LOWER INTEREST RATES - FUNDAMENTALS POINT TO STRONGER USDCAD TP SET AT 1.4700, MANAGING RISK WITH SL AT 1.4490 (R/W ~ 4.00)

Jwaring

Expected pull back due to 9-day run. Pull back to previous resistance at 1.4000. This level critical for follow up and evaluation of fundamentals to gain clear picture for longer term trade. Heavy emphasis on crude - Possible fall to 1.34/1.28, possible gains to 1.55+.