Swing Trading Strategies & Stock Picks Since 2003

On Monday, I blogged about all of the reasons why I like USD/CAD. At that time, the currency pair was trading at 1.1889 and it is now 200 pips higher.

The resistance level that I have been watching was 1.20. As long as the currency pair closes above that level, there is no major resistance until 1.24.

Source: eSignal

What’s behind the move? OIL!!!!

This morning, I blogged about how the drop in oil prices will drive the EUR/USD and stocks lower. At that time, oil was trading at $60.23. It has traded as low as $58.83 this morning, which explains the sharp sell-off in the Euro and Canadian Dollar.

Good Trading!