We saw the USDCAD test the level I mentioned last week. See link below:
At the moment we see another consolidation by means of a Bull flag. A test of the rising non-horizontal trend line followed by a break higher indicates more bullish price action to expect. This is very possible since I expect Oil to test at least 25. The question is whether we see a correction first or whether price moves into that direction by means of this current trend.
If we see a clear break below the rising black non-horizontal trend line I will wait for a consolidation and continuation lower for a sell.
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At the moment we see another consolidation by means of a Bull flag. A test of the rising non-horizontal trend line followed by a break higher indicates more bullish price action to expect. This is very possible since I expect Oil to test at least 25. The question is whether we see a correction first or whether price moves into that direction by means of this current trend.
If we see a clear break below the rising black non-horizontal trend line I will wait for a consolidation and continuation lower for a sell.
www.timstuyts.com
facebook/timstuyts/
