Scott Barkley
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Scott Barkley in Proact Traders,

$USDCAD– range trading?

Currently we are 1.2878 in a large range. West Texas Intermediate is rallying and the USDX is correcting and the result is a chart that looks very close to the USDX (see graphic).  We are looking to continue to the 0.500 Fibo @ 1.2840 and with a further target to the 0.618 Fibo @1.2751 area. The average daily true range (ATR) for the pair currently is 112 pips.