FOREX : Watch for break Down on USDCAD
Updated
Hello Traders.
I'm expecting a reversal on the paire USDCAD by the start of 2019.
As you can see the CAD is under evaluted against other paires due the drop on Oil prices.
Once the prices on Oil will start to go in up trend, all the paires trading against the CAD will start to drop very hard.
OPEC members + non OPEC members will be cutting Oil supplies from the market by 1.2 Milion barrels per day buy the start of 2019.
Big market players are forecasting a higher Oil prices during 2019.
Goldman Sachs GS : 70$ for Brent.
UBS : 80 $ for Brent.
I will be updating this idea so we can learn the pattern behavior on real time in the market.
This is for educational purpose, not a investment advice.
Never expose more that 1% of your capitale to the market.
Best regards.
I'm expecting a reversal on the paire USDCAD by the start of 2019.
As you can see the CAD is under evaluted against other paires due the drop on Oil prices.
Once the prices on Oil will start to go in up trend, all the paires trading against the CAD will start to drop very hard.
OPEC members + non OPEC members will be cutting Oil supplies from the market by 1.2 Milion barrels per day buy the start of 2019.
Big market players are forecasting a higher Oil prices during 2019.
Goldman Sachs GS : 70$ for Brent.
UBS : 80 $ for Brent.
I will be updating this idea so we can learn the pattern behavior on real time in the market.
This is for educational purpose, not a investment advice.
Never expose more that 1% of your capitale to the market.
Best regards.
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Watch for pullback and continuation for down side.Note
The USDCAD still pushing for upside,This update is remainder for the bigger picture status.
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We finally got that break down.Note
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The flag broken down as expected.Note
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