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%)
Click on the image to enlarge
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.
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.
Views are my own, not trading recommendations.