Hello guys,
Cad continues to be weak and i am hoping to capitalize on it. I Scalped the pair last week for some gains and i am hoping to continue riding the pair down to lower levels. With oil being oversupplied and prices going lower due to corona virus , I see cad getting a pull back but continuing with the weakness down until the OPEC meeting mid this month. We also have to be vigilante of vigilante tactics that could change the trend for example if Libya cuts on their supply of oil or oil tankers are attacked in the middle east that would bring the price of oil up and the cad would follow suite.
Cad continues to be weak and i am hoping to capitalize on it. I Scalped the pair last week for some gains and i am hoping to continue riding the pair down to lower levels. With oil being oversupplied and prices going lower due to corona virus , I see cad getting a pull back but continuing with the weakness down until the OPEC meeting mid this month. We also have to be vigilante of vigilante tactics that could change the trend for example if Libya cuts on their supply of oil or oil tankers are attacked in the middle east that would bring the price of oil up and the cad would follow suite.