I'm expecting a reversal on the paire EURCAD by the start of 2019. As you can see the CAD is under evaluted against other paires due the drop on Oil prices.
Once the prices on Oil will start to go in up trend, all the paires trading against the CAD will start to drop very hard.
OPEC members + non OPEC members will be cutting Oil supplies from the market by 1.2 Milion barrels per day buy the start of 2019.
Big market players are forecasting a higher Oil prices during 2019.
Goldman Sachs GS : 70$ for Brent. UBS : 80 $ for Brent.
I will be updating this idea so we can learn the pattern behavior on real time in the market.
This is for educational purpose, not a investment advice. Never expose more that 1% of your capitale to the market.
Best regards.
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Long term trade is ahead on EURCAD, traget will be the bottom at 800 pips.
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If strong data on oil tomorrow, this trade will be tirggered.
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If there a new high on this paire i will stay bearish on it.
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We had that impulse that we were looking for
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Watch for sideway mouvement ( Flag ) to break down and continuation.