The pair has broken out from a smaller degree correction to the up side and also broke an immediate downtrend, buying after a correction down looks good right now. The possibility of a major break to the upside is also now looking likely.
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Kommentare
Bintang
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USDCAD & USOIL are negatively correlated so, higher oil will pull this pair down, not up...
piphunters
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sorry my mistake it was bit confusing not to mention a turn expected in oil after small upside, around 43-45 it's expected to come down again I believe
purpurato59
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I'm more inclined to a short in this one, I think the new uptrend in oil will help it. I always like to look at ideas opposed to check.
nahidik
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Nice chart. I agree with more up. I have levels of strong resistance around the 1.34 area.
piphunters
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thanks, also take a look at oil, gonna carry this pair up.
UnknownUnicorn16580
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ummm no. Rising oil = lower USDCAD.
piphunters
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right...
stream
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oh i really not believe that buy option UC . The consolidation is more than clear ,
piphunters
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we'll see
stream
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this is a regular common answer , but the consolidation is finished , so suppose to know already ..