USDCAD Canadian Inflation and Retail Sales Due Soon – Has Oil Peaked ?

May 20, 2016


With forecast Retail Sales already on the low , A worse than expected figure combined with in line or worse inflation data could see USDCAD blast through trendline and horizontal resistance between 1.31700 – 1.32150. Should this come to fruition, Will look for a long position on a retrace back towards Support ( previously resistance)

Further momentum to the upside also exists on USDCAD , as Crude Oil hits trendline resistance and psychological $50 barrier.

USD/CAD 4 Hour :

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Crude Oil 4 Hour :

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Arthur Drakopoulos – @VantageFX

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