USD vs LOONIE first target hit

we have a weekly signal reversal present w/ a realistic count and “monthly” bearish divergence as the new high was being made.  So, for now, expect LOONIE strength which “should” translate to higher oil prices and the Oil Services Index rising.  However, take a look at the count.  I see this as a subdivided 3rd wave so this is a wave 4 working out, which will ultimately bottom and cause another new high to be made by the USD.  For now, if your a long dollar expect some pressure and if you can play the long LOONIE side this would be a good time to look for the first pullback to give it a shot.

just search “loonie” on my site and you’ll see we’ve been waiting – patiently- for this target to get hit.

 

Page_15-10-03_10-35-01

 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: