OIL PULLBACK + DYX BOUNCE + OVERSOLD USDCAD = THE PERFECT LONG
Updated
CAD has seen incredible surges due to bullish breakouts in US CRUDE OIL (
WTI), and FOMC not signalling a 4th hike. 1-4h time frames oversold on USDCAD, and price resting on the channel support. DYX took a hit, but will bounce, and if that happens along with a much needed pullback on CRUDE OIL, look out! CAD will bounce hard.
Look at the RSI levels on US CRUDE OIL.. it's only a matter of time.. CAD economy largely correlated with CRUDE OIL PRICES!
USDCAD
WTI), and FOMC not signalling a 4th hike. 1-4h time frames oversold on USDCAD, and price resting on the channel support. DYX took a hit, but will bounce, and if that happens along with a much needed pullback on CRUDE OIL, look out! CAD will bounce hard.Look at the RSI levels on US CRUDE OIL.. it's only a matter of time.. CAD economy largely correlated with CRUDE OIL PRICES!
USDCADNote
So far, so good! Keep riding it!
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