The USDCAD today fell lower right off the daily 21 ema as USD crude oil production fell short of expectation. We had earlier rejection signals in the 1 hour off the 365 ema. We are still waiting for a break of our 1.366 support area, and we could look for any retracement price action signals in the hourly to resume the down trend. I have a feeling that we might make a false break of support and a weekly close above 1.366, which would then in turn give us a weekly reversal price action pattern, but we still have a few days till the end of the week, so lets not count on that just yet.


Price respecting the 21 ema, waiting for break of support

USDCAD D1 24-02-16


We had nice rejection signals off the 365 ema which is the daily 21 ema on a smaller time frame

USDCAD H1 24-02-16


Price respected the 21 ema, looking for the top of the range.

WTI D1 24-02-16

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