So today will sort this out , we have been in a squeeze slowly for a while now , This has now popped above the 0.5 fib line which we have been waiting for. Its posted a new high of 1.3672 , I feel the USD has been undervalued lately , OIL is still trading sideways under the $50 a barrell. Im certainly not a buyer of the Canadian dollar, Im more a USD bull right now ,
Data today is USD and CAD - GDP numbers out
Going to trade out of the data release , and would like to see this retrace around the 0.5 fib line again before entering, but confluence zones of around 1.36-1.3620 are looking good ,
Stay tuned for the outcome !!!!!!!!!!!!
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Still in this trade @ 1.36 will see how NFP goes today beforde making a decision but a stop @ 1.3730 is in place