the loonie fell 700+ pips in 3 days. that’s a big move in the currency markets ..
so, where are we now .. appears we are in a rally that needs to get shorted (LOONIE strength)
here’s the charts I’m using …some really strong levels on the $OSX. not sure which one will be hit, yet.
I missed my entry at the .786. (was on travel)
That’s OK …what I’ll try to do is do a real time look at getting into the first retrace.
- Here’s the charts …
- Relative Strength of the $OSX / $NYA.
- note, the AB-CD is a little lower but believe we are in the zone for the PATTERN To be complete
- on schedule, and look at the daily, almost perfectly on time
- USD vs LOONIE
- smacked exactly into the .786 and other ratio’s and has begun to strengthen …
Note: using intermarket and ratio analysis we were able to synchronize the “POTENTIAL” pivot in the Loonie, using Crude, relative strength of the OSX and then the patterns on the Loonie.
Stay tuned as this might get really interesting.
this entire thing is wrong w/ a daily closing above the .786.
I have my line in the sand, I like that.
CLIFF NOTES: USD support for BUY opportunity shown//very important divergence present in OSX and LOONIE vs USD. for the life of the data they have moved opposite but for the past 2 years they have rolled together. while they have lead/lagged they have, essentially, been doing the opposite at tops and bottoms. When one tops the other bottoms and vice versa.
so, at times, one could look to the Oil Service Sector and see if a BUY or SELL pattern completed and then look for the opposite pattern to appear on the Loonie vs the USD. For two years that has not been the case .. they are moving together. They could roll together into infinity but something certainly doesn’t make sense …
so compare the commodity currencies (AUD/NZD/CAD) against each other ….BOOM a beautiful SELL PATTERN on the AUDCAD
CLIFF NOTES: Loonie “should” strengthen against the AUSSIE
how about CNZDCAD? not suprising — KIWI is kicking everyones butt right now … it’s at an all time high against the LOONIE w/ strength.