USDCAD is BEARISH & USOIL is BULLISH (next week)
From 4 hour chart of USD CAD & USOIL ( Candlestick: black is down & blue is up) next week USDCAD will be in a bear trading cycle and USOIL will be in bull trading cycle. Both pairs are negatively correlated. Lower time frames trade with major trend direction for safety reasons and money management. Continue to learn and understand everyday...
Note on chart-- where both pairs CROSS over each other is a MAJOR confrontation of TREND direction. Also, noted on chart is EMA 50 (purple line)- if purple line is above PA then sell & if purple line is below PA then buy. Good Luck!!
Note on chart-- where both pairs CROSS over each other is a MAJOR confrontation of TREND direction. Also, noted on chart is EMA 50 (purple line)- if purple line is above PA then sell & if purple line is below PA then buy. Good Luck!!