USOIL and UKOIL seem to be coming into some resistance, so I'm expecting the CAD (despite recent good news) to find some weakness here... This trade may take some time to play out, but we'll see. I'm going Short.
Note
Just checked out this week's calendar and it looks like CAD has a rate decision. CAD comments (along with comments from many other countries) have been somewhat dovish. This leads me to believe that the CAD may see a nice, perhaps even faster move down this week... The crowd was hyped up from the good economic #'s, but I'm calling bullshit and want to see that dovish CAD play out. CAD rate decision at 10A EST 12/6!
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***If you feel like you've learned something and would like to learn even more, please sign up and support me as a patron at my Patreon page located at Patreon.com/SimpleRenkoTrading***
Thank you for your support!
Thank you for your support!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.