Entry would be preferable a closure of a or on the 4 hr .
Long term Targets is 1.38
Things to be aware of:
- January monthly closure was very so taking profits at key levels (1.33500) 1.34
- This could be just a pull back to continue further down if USD weakens.
- CAD is bound to get weak if oil breaks below $55. Would confirm the .
- The sell off on USDCAD was mainly due to oil prices going back up but it seems to have found resistance at $57.50.
- Link to Analysis on WTICOUSD ( Oil ) Linked
LInk to Oil Analysis
Small Short position entered on resisitance. Price gave a M formation on lower timeframes. 4hr looking likely to close with a pin bar.
Targets defined in market up link.
- Still yet to get a pull back.Will update at the week goes.