Adding a 22 period CCI to the chart and a 11 period moving average of highs and lows we can see how oversold USDCAD is.
Right now, the next hurdle is the level at 1.30113, which if breached might lead to a repeat of the pattern we have to the left, where CCI also dipped into new momentum lows compared to the past month.
I added a replica of the previous decline to illustrate the similarities. This time the global picture is different and we might see an even sharper selloff but only if Crude oil reverses more meaningfully than the last time.
If we don't get a move past 1.30113 very soon, I'd be tempted to look for longs, but not yet.
Verdict: Neutral, too late to short, too dangerous to go long.
Regards,
Ivan Labrie.
Time at Mode FX
Right now, the next hurdle is the level at 1.30113, which if breached might lead to a repeat of the pattern we have to the left, where CCI also dipped into new momentum lows compared to the past month.
I added a replica of the previous decline to illustrate the similarities. This time the global picture is different and we might see an even sharper selloff but only if Crude oil reverses more meaningfully than the last time.
If we don't get a move past 1.30113 very soon, I'd be tempted to look for longs, but not yet.
Verdict: Neutral, too late to short, too dangerous to go long.
Regards,
Ivan Labrie.
Time at Mode FX
노트
Followed the path to the tick so far. Monitoring for now.노트
This is rather precise...
Public, timestamped track record. Free month of the desk: ivanlabrie.netlify.app
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Public, timestamped track record. Free month of the desk: ivanlabrie.netlify.app
관련 발행물
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.