FYI:
USDCAD 1 Month, generally not used for trading BUT tells you a lot of information. What a month chart tells you is the following: Major Trend, Which Way to Trade? Like for rest of September, per red candlestick going on now, trade with the bears ( currently making an engulfing candlestick). Price action is not only chart that you are looking at now.
What else? USDCAD & USOIL is a ying yang pair (or negatively correlated) to each other. You can see easily future of both of these pairs from 2016 to 2020. USOIL will be going bullish and USDCAD will be going bearish. This will give you a guideline of which way to make shorter time frame trades. When the EMA 200 goes above EMA 50 on this month chart, this will indicate a MAJOR chart from bulls to bears from that time on. This could happen this YEAR.
USDCAD 1 Month, generally not used for trading BUT tells you a lot of information. What a month chart tells you is the following: Major Trend, Which Way to Trade? Like for rest of September, per red candlestick going on now, trade with the bears ( currently making an engulfing candlestick). Price action is not only chart that you are looking at now.
What else? USDCAD & USOIL is a ying yang pair (or negatively correlated) to each other. You can see easily future of both of these pairs from 2016 to 2020. USOIL will be going bullish and USDCAD will be going bearish. This will give you a guideline of which way to make shorter time frame trades. When the EMA 200 goes above EMA 50 on this month chart, this will indicate a MAJOR chart from bulls to bears from that time on. This could happen this YEAR.