The pair is under valued long term but .....
Right now this is on the downward path ( long term ) and its starting to form the classic Bear flag pattern before it resumes again, Got my eye on oil, its turning over at price resistance ( see chart below ) it should get a bounce off the T/L due to opec cuts and the bigger picture looking better for oil long term, which will add to strengthening the CAD and pushing the USD further down ( long term ), its only getting propped up right now due to risk off on the US MKTS. There is caution in the air due to some US states seeing a spike in covid cases .... however I see this pair creeping up to the T/L before we turn over ( in the channel ) ....
FYI im riding the channel up and down until we break it which I dont see happening until we make lower highs , Hope that helps ....
Happy trading
Right now this is on the downward path ( long term ) and its starting to form the classic Bear flag pattern before it resumes again, Got my eye on oil, its turning over at price resistance ( see chart below ) it should get a bounce off the T/L due to opec cuts and the bigger picture looking better for oil long term, which will add to strengthening the CAD and pushing the USD further down ( long term ), its only getting propped up right now due to risk off on the US MKTS. There is caution in the air due to some US states seeing a spike in covid cases .... however I see this pair creeping up to the T/L before we turn over ( in the channel ) ....
FYI im riding the channel up and down until we break it which I dont see happening until we make lower highs , Hope that helps ....
Happy trading
Not
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.