NZDCAD has dropped +100 pips since the last commentary. Structure has been broken to the downside and a lower low is about to form. The descending trendline is still providing resistance and the overall market is extremely bearish. Traders are still bearish and looking for more short opportunities.
USDCAD also dropped +80 pips since the last commentary. The overall structure is bearish and the focus amongst traders is to the downside. A break and close below the support zone will confirm further downside momentum. The other scenario is a retest on the resistance will provide shorting opportunities.
USOIL is approaching $85 which is on the resistance zone. The overall bullish structure played out perfectly since the market was around $65. The trend is extremely bullish and there's a higher probability chance that the market will continue forming new higher highs. This will confirm further upside momentum.