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rizsardar

USOIL pushing towards 60.00 - USDCAD SHORT?

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
rizsardar  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Support and Resistance Trend Lines
2
0
supportandresistance trendline
It can be seen that OIL is rising towards the upper trendline and key psychological price of 60.00..

Oil and USDCAD have an inverse relationship (gold goes up, USDCAD goes down (as CAD strengthens due to Oil rising)..

OIL resitance at 58.00, this price will be monitored closely, if a close above this level on 4hr or daily, a short trade on USDCAD will be taken towards the lower trendline and support zone 1.3210 - 1.3200.

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