Position update
1. Yesterday we entered another intraday short term trade to long Oil from 61.91 and took profit at 62.43.
2. EURUSD and DXY stuck in the narrow range.
We'll close 50% position at cost (spot 1.1206 and 97.36 ).
3. New trade idea:
①USDCAD: sell at 1.3453 stop 1.3522 for 1.3300 (Risk 0.5%)
②CADJPY: long at spot (spot 81.39) stop 80.90 for 82.05 (Risk 0.5%)
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USDCAD
USDCAD consolidated in the 1.3400--1.3500 range.
A potential small abc correction toward 1.3297 could not be ruled out.
Daily close above 1.3520 may retest 1.3690 and beyond.
CADJPY
After the strong sell-off, CADJPY almost reached 100% extension at 80.75.
The price finds some support near 50% Fibo at 80.92.
Both daily and weekly trend is firmly bearish.
However, near term some retracement is likely.
We'll try a long trade against recent low.
Directly break lower may target at least 80.25/79.85.
Oil ((Light Crude Oil Futures)
The price is still in the short term uptrend channel.
Daily close above 62.15 may target 65.36.
To the downside, 57.34/13 could provide medium term support.
EURUSD and DXY
It's hard to update anything from a technical perspective.
Before we have reliable signals of trend reversal, we still hold the positions.
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