Since we see OIL moving lower in our SELL Oil strategy, the USDCAD very likely will move higher.
The weekly chart shows clearly being below the DARK CLOUD cover, but as observed it has been for some time.
The STOCHS are showing that we may turn the tide, and MACD seems deceiving showing a SELL SIGNAL.
The good thing about technical indicators is, never look at only one, but study across the board.
My personal feel is, the weekly candle close ( DOJI CROSS) and STOCHs plus OIL, suggest to buy current and take profit around 1.2580, and likely we will move inside the dark cloud. Have patience and one may see 1.2750 again.
The weekly chart shows clearly being below the DARK CLOUD cover, but as observed it has been for some time.
The STOCHS are showing that we may turn the tide, and MACD seems deceiving showing a SELL SIGNAL.
The good thing about technical indicators is, never look at only one, but study across the board.
My personal feel is, the weekly candle close ( DOJI CROSS) and STOCHs plus OIL, suggest to buy current and take profit around 1.2580, and likely we will move inside the dark cloud. Have patience and one may see 1.2750 again.