alexkyp

USDCAD potential SELL

Short
FX:USDCAD   U.S. Dollar / Canadian Dollar
There is a clear M formation on the 4hr time frame + possible Bearish divergence +Is on a critical S&R fib level + The pair was overbought the past few days and the DXY is currently rejecting the 96.75 +Oil prices are on the rise

Comments

I believe Oil price is going to drop back down to $50 per barrel again. Also, CAD is weak at the moment so that is halting/limiting any pullbacks this FXX pair might make.
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