With oil prices rebounding flow towards commodity currencies was evident. While guessing Crude oil tops is pointless, after 11 weeks and more than 11 % appreciation loonie might be at a resting point.
The Canadian government is to anounce its fiscal stimulus, I believe most positive factors are already priced in, hence I am trying to go long at the weekly 61.8% fib retracement level, trying to get around 3% nominal move.
The Canadian government is to anounce its fiscal stimulus, I believe most positive factors are already priced in, hence I am trying to go long at the weekly 61.8% fib retracement level, trying to get around 3% nominal move.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.