Hi Guys and Gals ,
Okay so its been a while , anyways straight into it , Oil is in a right pickle at the moment and Australia is one of the leading nations at the moment regarding the Covid crisis , so their cases are very much on the mend and the country is on track to getting things back to normailty quicker than most, this coupled with a very clear upside bias on this pair , im waiting for a pullback first off previous price resistance to 0.9030 to go long up to trend line resistance.
Why ? because the Canadian $ is correlated directly to oil so its weak right now due to the mess.
Okay so its been a while , anyways straight into it , Oil is in a right pickle at the moment and Australia is one of the leading nations at the moment regarding the Covid crisis , so their cases are very much on the mend and the country is on track to getting things back to normailty quicker than most, this coupled with a very clear upside bias on this pair , im waiting for a pullback first off previous price resistance to 0.9030 to go long up to trend line resistance.
Why ? because the Canadian $ is correlated directly to oil so its weak right now due to the mess.
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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.