USD/CAD Moves and Counter Moves
Good Afternoon,
Fundamentally, quiet day. Earnings are still should be on your radar every day and the low claims number is more a sign of auto worker seasonalities than anything else. Let's keep an eye on that.
Not much in the way of news tomorrow and I am thinking we have the possibility of a crazy Friday rally that shows no signs of risk. Why?
Technically, there seem to be more buyers than sellers. Every time the SPX gets beat down, we finish off our lows. We have seen this before. The sellers eventually dry up and pop, up go equities.
At the same time though, I am watching the VIX and this trendline. Sellers keep knocking it down, but it is hanging in there. A bit of tug of war at these levels, but if equities pop, the VIX should go through the this trendline.
Past performance is not indicative of future results
Next up, the myriad of day trades in forex. Welcome back DOUBLE FALL LINE TRADES. Here is the USD/CAD as oil weakened, then strengthened, causing the USD to weaken, then strengthen:
Past performance is not indicative of future results
See you tonight for the IBFX "Trend Opportunity" Webinar
Happy Trading and Be Environmentally Cool
Coach Brian
Forex trading is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose.
