This is a quarterly resistance so I consider it interesting to try considering the downside potential in this juncture.
If we were to cross my stop, we'd have to see how it fares against the next red zone above.
I'm thinking this is a significant low in the stocks and oil, and thus, a great chance to short USDCAD when there're no oil bulls left. Someone's holding all these giant CAD positions, and it's bleeding massively, they have to get squeezed soon, and I think the time is now.
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Ivan Labrie.