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.