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USDCAD: Crude as an indicator and the importance of fundamentals

USDCAD: Crude as an indicator and the importance of fundamentals

Crude Oil WTI NYMEX:CL1!

Tomorrow we have two key pieces of news that will be released, which can affect the direction USDCAD will favor. I'm looking at the triangle at the top, and the current triangle in Crude\s 4th wave (if my count is correct). There is no clear setup yet, but it might be worth watching to see how the market reacts to both Stephen S. Poloz's (Bank of Canada's governor) and Janet Yellen's speeches. When both technical and fundamental events align, we have the highest confidence setups. I will update the chart with any trade setups I find.