USDCAD has reach a resistance area at Fibonacci 50% that has been recently respected twice forming a triple top on daily and weekly time frame in confluence with the Yearly pivot point. Stochastic in oversold area showing some divergence increase chances of reversal.
OIL has also reach the bottom of the trend line channel into the previous resistance area that has been breached last November.
Having Oil, which is highly correlated with CAD has reach a support at the same time that USDCAD has reach a resistance puts more odds in favor of a reversal.
OIL has also reach the bottom of the trend line channel into the previous resistance area that has been breached last November.
Having Oil, which is highly correlated with CAD has reach a support at the same time that USDCAD has reach a resistance puts more odds in favor of a reversal.
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