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Oil reaffirms it's bullish Trend

Jignesh Veröffentlicht 13 Apr. in #Trader's blog #Oil #Usdcad #Light

Oil has broken to new highs reaffirming the bullish trend. Below is a chart
The upside has carried some momentum, which is showing in the Canadian dollar which slid through the 1.30 and reached a low of 1.2743 today before starting to pull back toward the 1.28 level.
We may see a bit of pull back in the Cad crosses as oil consolidates near previous highs, which can offer a setup to buy the CAD on dips.

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Support in oil may offer scalp setups in CAD

Jignesh Veröffentlicht 4 Apr. in #Trader's blog #Oil #Scalp #Cadchf #Light CMD/USD

After a strong break in oil and a nice rally, we once again see the commodity turn bearish. To start the week, the instrument has been pushed towards the lower end of a down channel without much of a push to move it lower. While at these levels we may see a potential for a correction higher before continuation of the lower move. Please she the 4H chart of oil below.
While above the boxed area, we have potential for a push higher.
A look at CADCHF, shows that though the pair is also in a down tre…

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Saudi Arabia Comments Boost Oil - Sharp sell in USDCAD

Jignesh Veröffentlicht 23 Nov. in #Trader's blog #Oil #Usdcad

The USDCAD has been enjoying a nice strong bullish trend for the majority of November.
Today we received comments that Saudi Arabia has agreed to cooperate in efforts of stabilizing oil supplies.
The big push lower in oil, has largely to do with supply and demand, finally Saudi, one of the most influential members of OPEC has stepped up and made a commitment that will in turn assist in the slow down of the sell off we have witnessed thus far.
The initial news caused a bit of a rally in Oil, whic…

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Jignesh's Blog

Oil reaffirms it's bullish Trend

Support in oil may offer scalp setups in CAD

Saudi Arabia Comments Boost Oil - Sharp sell in USDCAD