Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
Trade idea for USD/CAD
2019-11-11 • Updated
TP1 1.2885 TP2 1.273 TP3 1.267
On the daily chart, bulls are trying to return USD/CAD inside the long-term uptrend channel. If they fail, sellers will seize the initiative. Bears want to renew September low and trigger a “Broadening wedge” and AB=CD.
On H1, if USD/CAD pulls back from resistance at 1.3075 and forms “Three Indians” pattern on the correction, it may be a signal for selling. A conservative approach suggests selling on the break of support at 1.2985.
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