Dollar / Loonie testing support
USD/CAD is as of now testing a strong support of 1.3005/0 area.Cad along with crude oil has been strengthening since late yesterday. Initial reaction to the crude oil supply data yesterday was a sell off in oil and cad which soon reversed.Both Loonie and oil are trading at its days highs (Usd/Cad of course trading lower).Technically U/C is now testing its 50EMA in D1 and last two attempts to break below this has failed.This also coincides with the 61.8 fib of last low to high in daily chart.I have taken a small buy in U/C now based on this technical with a stop below 25 pips.This is short term opportunity and I wont like to hold on to this sfor long.Meanwhile my DJIA trade is still open and saw it beautifully respect the technicals after the trade was executed, We saw DJIA move higher today because of the BoE cut and easing which however did not last long and DJIA is now back to where it started the day.The DJIA trade recommendation can be viewed here
Disclaimer :- Trading is not for the weak hearted , Trading these instruments involves high level of risk and losses can exceed capital (depending on your FX Broker).My advises should be used as a medium to learn and not as a medium to get RICH.I dont have any formula for anyone to get RICH. I shall share no responsibility for anyone's profit or losses.Once again Trading is not for everyone.