USDCAD LONG 2020-05-11Back again for another crack here. Price rejected lows pretty emphatically overnight. Same bullish thesis for this one, I'm expecting oil to get smoked this week as the June contract expires, and perhaps we see the classic correlation with the CAD.
There are two scenarios I'm going to look for, they are drawn on the chart. I prefer to see the top option, waiting to see what unfolds. These trades assume we have failed to make a lower low on the daily chart.
DISCLAIMER
There is a very high degree of risk involved in trading. Past results are not indicative of future returns. I assume no responsibilities for your results, these are merely ideas. Stay safe out there!
