Lots of News this week for the USD/CAD.
UC moved down today and the 1.25 handle was swiftly defended at the S61 level , easy entry point pivoteers since the 1.25 handle is a psychological level as well.
I believe that oil is headed to the $57-$54/BBL range sooner rather than later.
Potential is definitely still there for this pair to hit the S78 level this week as well at 1.2487ish , however , there is tremendous support for this pair at levels S61 , S78 , to S100.
The ball is definitely in Powell's Court this week. Carefully chosen words can send this pair North quite swiftly.
Canadian Data on Friday , if disappointing , adds fuel to a bull run for the USD towards the 1.2650 area quite easily where tremendous resistance is awaiting at R61.
Actually , lots of resistance between R38 and R61 , thus , a quick spike to R61 MAY BE SHORTLIVED.
I am currently LONG UC from 1.2510 AND DUE TO MY OWN STUPIDITY WITH MY FINGER , I am also LONG UC from 1.2610 which I entered last week , thus , currently in a very easily manageable drawdown.
Personally , I believe that statistical probability with the S61 level will be maintained this week.
Well folks , that's my wrap for the week , but , ANYTHING CAN HAPPEN IN FOREX.
Lots of green pips to be had , go get 'em !!!
GE
UC moved down today and the 1.25 handle was swiftly defended at the S61 level , easy entry point pivoteers since the 1.25 handle is a psychological level as well.
I believe that oil is headed to the $57-$54/BBL range sooner rather than later.
Potential is definitely still there for this pair to hit the S78 level this week as well at 1.2487ish , however , there is tremendous support for this pair at levels S61 , S78 , to S100.
The ball is definitely in Powell's Court this week. Carefully chosen words can send this pair North quite swiftly.
Canadian Data on Friday , if disappointing , adds fuel to a bull run for the USD towards the 1.2650 area quite easily where tremendous resistance is awaiting at R61.
Actually , lots of resistance between R38 and R61 , thus , a quick spike to R61 MAY BE SHORTLIVED.
I am currently LONG UC from 1.2510 AND DUE TO MY OWN STUPIDITY WITH MY FINGER , I am also LONG UC from 1.2610 which I entered last week , thus , currently in a very easily manageable drawdown.
Personally , I believe that statistical probability with the S61 level will be maintained this week.
Well folks , that's my wrap for the week , but , ANYTHING CAN HAPPEN IN FOREX.
Lots of green pips to be had , go get 'em !!!
GE
"Define the risk OUT of your trade"--Mark Douglas
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