FOREX TRADERS

[crooner2]

I am new here. I am short the CADJPY and here is why. The CAD follows Oil as a rule. Oil is dropping like a rock. The Saudis are trying to drive the price down to hurt further exploration and production so they can keep their strangle hold on the world oil supplies. I believe the CAD currency will continue to drop. So a long trade against the CAD is going to have some head winds. The CAD currency is also trading below the 10 and the 20 moving average on the weekly charts too. Not a good sign. As far as the other side of the trade, the jpy currency is looking like it is getting stronger the last few weeks. So if the CAD is going to get weaker and the jpy strengthens that would be a short condition. I think the CADJPY pair will likely be lower in the next few week. The jpy is the mystery here. Just my opinion. EURCAD looks like a long after a pullback next week too. CADCHF looks like a short soon after a pullback next week.