USD/CAD: Buy On Weakness As Oil/DXY Stand
The path of least resistance for the pair should be higher if one takes as reference the slope of its two most correlated instruments (DXY + Oil). The DXY in magenta leaves no room for doubt. Even if the 25-HMA slope in Oil (thin red line) was to turn south, there is still a significant macro divergence in favor of the USD/CAD as the 125-HMA (5-DMA) demonstrates (thicker red line). The fact that the pair trades higher than its pre-blockbuster Canadian jobs report is a clear testament that even if an episode of selling pressure may occur due to economic data, the flows are in favor of the bulls here.
👉👉 Join The OFA Inner Circle:
📓📓Learn Order Flow like a PRO:
ofa-course.com
🧑🏫🧑🏫 Author of the #1 Order Flow Script:
tradingview.com/script/WhQSEfKT-OFA-Order-Flow-Analysis
📧📧 DM me if doubts (100% response rate)
📓📓Learn Order Flow like a PRO:
ofa-course.com
🧑🏫🧑🏫 Author of the #1 Order Flow Script:
tradingview.com/script/WhQSEfKT-OFA-Order-Flow-Analysis
📧📧 DM me if doubts (100% response rate)
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.