The pair started the week with a wide gap following news about a drone attack on Saudi's Aramco which lifted oil prices and its correlated currencies such as the Canadian dollar.
The fact that the pair hasn't been able to fill the gap around 1.3270 suggests that this up channel on hourly charts might break to the downside targeting 1.320, 1.3150 and below if the recovery of the oil market takes longer than expected.
Keep an eye on the latest headlines regarding this incidence, and the FOMC on Wednesday.
Good luck
The fact that the pair hasn't been able to fill the gap around 1.3270 suggests that this up channel on hourly charts might break to the downside targeting 1.320, 1.3150 and below if the recovery of the oil market takes longer than expected.
Keep an eye on the latest headlines regarding this incidence, and the FOMC on Wednesday.
Good luck
Ramzi Abou Abdallah, CFTe, CMT
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