CXY trade ideas
Possible scenarioCXY = USDCAD upside down. Camarilla is one of the best indicators for forex traders as it reveals important hidden levels one would not be able to spot with naked eye.
And since it is a leading and static indicator you dont need to flip all the charts trying to find those levels.
If this thing breaks through R1 it will move higher.
Canadian Dollar Index (Direct relationship with oil) .The Canadian Dollar Index and its correlation with oil because it follows the Canadian either in the fall or the rise currently the Canadian Index is in a downward direction and is now moving in a symmetrical triangle on the weekly from 2011 to now and he is making a correction in a smaller symmetrical triangle and he is inside the triangle now so any deals are currently short The range and we are watching the symmetrical triangle fracture and breaking the level of 73 because without breaking this level , it will return to the second trading within it. If the fracture is confirmed, it is to descend to these levels shown on the chart below, which is the closest view to the Canadian Dollar Index. we also have the largest symmetrical triangle fracture on the weekly, and then the rise to these high levels shown on the chart. (Good luck dear traders)
TOLD YOU SO!EXPECTING A BOUNCE HERE, BUT THE TREND IS MASSIVELY BEARISH!
THE CANADIAN LOONIE IS THE WEAKEST CURRENCY IN THE WESTERN WORLD, EVEN WORSE THAN THE AUD (IT MAY NOT SEEM IT YET, BUT JUST WAIT!)
THERE IS A GOOD CHANCE GEORGE SOROS IS BETTING ON A CURRENCY CRISIS HERE JUST LIKE ENGLAND IN THE 1970s!
CXY/XXXCAD/M/Big Uptrend to unlock when??Observations
+Oil rinse and clean soon.
Remarks
Though CAD cuts rates due to global slowdown due to COVID 19 some serious recovery soon thinkable and unavoidable
When is the question to be asked now??
As of writing
USDCAD
EURCAD
GBPCAD
CADJPY
CADCHF (Bit beware of CHF may be a different story)
AUDCAD
NZDCAD
