USDCAD: SUB-MAJOR SUPPORT STILL In TACT
There was a trendline brake. I need the support to be broken too.
The coming Oil Rally could be that catalyst. The dollar could also rally with strong news. That is what the FED is waiting for.... and so am I. And, then one must determine that if the dollar rises, which will rise faster, oil or the US Dollar?
I think the oil will rise faster than the dollar. hehe.... So, whether it goes up or down, then is not a trade to play long.. just to observe for going long other currencies.
If the dollar continues to fall, which is what has been going on recently, then the USDCAD pair will fall down dramatically fast because oil is rising.
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