USDCAD has come a long way since mid January with 1500 pips to it’s effect amidst the uncertainty of the Oil market going on. With the lack of CAD news this week and the declaration that Iran wants to boost production, we could see a bit of an upside to the pair this week, or simply a sideways market.

USDCAD W1

USDCAD WEEKLY

One thing is for sure that we would be very cautious in selling this pair at the moment, to not get caught in a bear trap as our stochcastics are signaling an overbought market and both USDCAD and Oil seem to have slowed down around the 150 -200 EMAs.

USDCAD D1

USDCAD Daily

WTI D1

WTI D1

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.