One of the relationships I cover in my free forex webclass is that between oil and the Canadian dollar, and it has never been more important following today’s dramatic price action for both crude oil itself and broad market sentiment. So with equity markets in free fall along with oil, the CAD/JPY pair has delivered some wonderful trading opportunities, along with several others in the Canadian dollar complex. The combination of risk-off and oil has driven the pair lower still following the gapped down open under heavy selling as seen on the daily chart. Over the next few days it will be a question of watching the related markets of oil and equities for any recovery in the Canadian dollar.
You can discover more in my FREE forex webclass where I cover this in more detail and teach five trading ideas to help you in your own forex trading. You can join me by clicking the link here http://bit.ly/3cB64cH