USDCAD:
This pair has been moving higher as a result of a dovish BOC and weak data. As bulls were enjoying the bullish run, the Canadian jobs report came in strong for the second time, printing +55k vs +1.8k estimate, putting a halt to the bullish party. Price fell after a touch of MR2 resistance @ 1.33901 before falling and ending the week @ 1.34069. Reaching the monthly target so early in the month, we could see price move to the downside to reach support @ MMP.

WTICrude Oil:
WTI fell on Friday and found support @ 54.80 which coincides with WS1. Price however bounced back to the upside and closed the week @ 56.35. If price keeps heading north than that could possibly boost the loonie which would than setup USDCAD to mover lower, provided the dollar isn’t strong.

WTICrude H4 BULLS TRADE PLAN

WTICrude H4 BEARS TRADE PLAN

USDCAD DAILY

USDCAD H4

USDCAD H1

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