Even though the USD DXY took a bit hit late in the week the USDCAD did not drop as it should have. The CAD is also tied to commodities and especially OIL. So the CAD took a hit too.
With this in mind, the EURO could be strengthening over the coming weeks and it would make sense then to play EUR/CAD as long as OIL continues to correct.
From an Elliott Wave perspective the turn happened following an ending diagonal. And of course, the current move looks impulsive.
With this in mind, the EURO could be strengthening over the coming weeks and it would make sense then to play EUR/CAD as long as OIL continues to correct.
From an Elliott Wave perspective the turn happened following an ending diagonal. And of course, the current move looks impulsive.
