Our amazing and accurate analysis of Oil coupled with the chart dynamics and COT data provided us with the evidence we needed. What was collected was in support of a move lower on the #USDCAD as we were expecting #CAD strength. We needed a signal as shown in the post below.
With targets precisely set, once the daily demand was removed, our first target was hit today, October 14th 2021. Note how critical it was to have this daily demand zone accurately located.
🎯 Target 2 is located at 1.2193 and is expected to get hit.
What does this mean for the Canadian dollar? Over the next few days and week, we should expect continued strength in the #CAD. We would also be keeping an eye on Oil and the other markets to produce the necessary short signals to take advantage of the move down.