jconnor

jconnor

some longer term channel and trends drawn

jconnor Updated 

Let's see whether we can catch a significant bottom in USOIL price for 3rd August in a row :) I am looking for decline through the next 5-7 weeks due to the following brutal rejection at Weekly Pivot R1, which is also Daily EMA100. Note RSI - although the new high of 47.71 is slightly above previous major high 47.29 on Jul 4, downtrending RSI makes me think...

jconnor

While everyone is watching to see whether the 2016 low will act as a support/reversal point, I am also curious for the general direction of this currency pair over the long term. As CAD is so closely tracking USOIL prices, weakness in oil should support weakness in CAD, especially relative to USD, the currency of oil markets. For reference, here is the slightly...