USDCAD multiple patterns suggest sell on rallies

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    We have heard many times before "Buy the dips, sell the rips". Recently we had some USD gains and there were some rumours that OPEC may cut production, so Oil price went up. If OPEC cuts production traders should go long all equities with both CAD and RUB currency crosses. Remember Oil is connected to CAD and RUB. Because USA and Canadian markets are on holiday we are not seeing some big price movements at this moment. Technically USDCAD is showing multiple patterns suggesting that selling on

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