The market continues to pay attention to the oil market as crude oil has been very noisy recently. USD / CAD fell quite heavily, losing more than 1% for the session. The 1.35 level is an area that many people pay close attention to, and of course you also have the 50-day EMA in the same area. If we were to break below the 1.35 level, we would be taking a bigger trade and it’s worth noting that I could make some case for the bullish wedge that just broke, but I also believe that this is a situation where we’ve broken enough. of going down to argue that we still have work to do. Ad image READY TO MAKE YOUR MONEY WORK FOR YOU? TRADE NOW The size of the candlesticks is quite impressive, but it’s worth noting that the FOMC meeting minutes are still coming out, and then of course we have the jobs numbers for both countries selling on Friday. In other words, I don’t consider it a „done deal” because there is so much entry-level noise. Watch out for the oil market With that in mind, you have to be very careful, but I think we’re going to see a lot of noisy behavior. The market continues to pay attention to the oil market as crude oil has been very noisy recently. The Canadian dollar is so strongly tied to the commodity, that’s a known fact, so you have to hold both charts to trade, and that’s why I think we have a situation where the 200-day EMA below can be a target if we break because it’s also quite at the 1.32 level is an area that was important and of course it is the bottom of the general wedge. On the other hand, taking out the tops of the last couple of sessions could open the desperate 1. 0 level. A lot of that depends on the jobs numbers and of course the minutes of the Fed’s FOMC meeting and whether they sound exceptionally hawkish. It will be a bit of a „double whammy” as the tightening of the economy will almost certainly reduce the demand for oil again, which has been toxic to the Canadian dollar.