daily signal in USD/CAD
****wait for Hourly signal in London session****
no signal, cancelled.
daily signal in USD/CAD
- CAD had a good GDP data this week following by strong oil market from the support of OPEC members. Today we had a large built up in Crude inventories but oil was still resilient facing that, OPEC seems to be determined to hike the price up. Meanwhile, the negative sentiment of USD continues to help oil market and CAD. So now both fundamental strength of CAD and the sentimental environment are in line and in favour. Today we have a Kangaroo Tail that is looking to touch the downside support of 1.3000 which will be very significant if we break below and closed below. This is not a Daily Trade as we don’t recommend getting into USD for Daily perspective as the sentiment shifts very fast and unpredictably nowadays.
- The catalyst was the pure sentiment play plus the technical indicator.
- we’re oversold at this moment and will have to wait for retrace to PP which is also near 100MA
- The dollar still suffers from negative sentiment but it might changes to boot it up as the unemployment claim might turns out to be an important risk event later in NY session to turn everything around.
- I’ll manage it with news update and only get in if i have a good hourly signal at good retraced area.
- Yes but only if we have signal during London session as i’m not interested to do any dollar trade in longer timeframe now.
****wait for Hourly signal in London session****
no signal, cancelled.