Sting, when USDCAD goes down, generally Oil goes up. Is that true or is there some relationship between them ?Originally Posted by ;
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Sting, when USDCAD goes down, generally Oil goes up. Is that true or is there some relationship between them ?Originally Posted by ;
Yes there is correlation between cad oil. Canada has a lot of oil resources and is a major exporter of oil into states. So if cad gets more powerful than oil also will get more powerful. Since I have noticed the result is not as 16, the significance has died down.Originally Posted by ;
Hi Sting,
Since USDCAD has crossed the invalidation line and currently approaching to 61.8 percent of total upward move, could you please allow me to know your alternative view point ?
Additionally, enjoy very much in the event that you please share your thoughts about EURUSD and OIL.
Mav, I am still waiting for confirmation regarding eurusd, but now I am having a different perspective taking a look at the structure. Eurusd on a 4 hour time period seemed to be making, although dxy hasn't shown much of a drop. Take a look at this chart. The pair appears to be creating a series of 3 wave structures. I am out of of my places to get a better direction. Rinse ans repeat although lost some money.Originally Posted by ;
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usdcad also the exact same image it has almost touched the 61.8 retracement for the last major wave. Considering that the invalidation line is broken, it may return to almost the start of the 1st wave thus preventing it until I see signs of something impulsive to the surface. If oil breaks 66.52 then it's core bullish without a stopping it for a fairly long time. If you're still able and can manage a stoploss of 66.52 subsequently grip on cut the position.
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Okay Sting, I place a SL for Oil to 66.52, by expecting the price will come down. Let us see just how things are developing.Originally Posted by ;
DXY
US index has been disappointing although there is still hope. Whether this wave down rests under 61.8 retracement using a 4 hour close I can turn bearish on Index. When there is an impulse movement after reaching 61.8% there is still hope for your dollar.
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