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Visial USD/CAD this year
- Thread starter kalzayani
- Start date
go fundamental on this one, cause USDCAD is hard to forecast technically. focus on oil prices.
honestly, i don't understand the charts. For me, i need to study price action, momentum and support/resistance. Only then i can make a decision (buy/sell/stay out).
Quote from kalzayani:
Trying to get a visial chart forecast for usdcad
So any comments would be great!!!
I Guess it is suppose to crash...GL
Ok...These charts (Visial Forecasts) is like the band or range where the price is suppose to be within at the date given...
so for USDCAD now at red line and that red line is going more south...
I guess that means it's at right time and right level to short it and stay short...untill hits the green at any future date on the chart
GL
yes, the USD/CAD is strongly correlated with oil prices, that is what I would go by although only when oil is making news for either going extremely high or low...that happened last summer and the CAD definitely strengthened...they export 90% of their oil to the US so just through physical transfer of USD into CAD to buy oil will move the market