NAS100 ANALYSIS

No it's not like direct or indirect correlation, the fundamentals is that once oil prices start surging it strength the CAD index which causes CAD to be stronger than dollar because Canada is a major oil exporting country so their economy actually depends highly on oil prices so but if oil is down and CAD fundamental is good and dollar is down fundamentally it can still favour usdcad sells but if USD is stronger fundamentally and oil is weak and cad is fundamentally weak it will favour usdcad buy

All this fundamentals 🥲

It's quite interesting... So if FOMC favors USD, USDCAD will buy right

Yes definitely but you have to look at oil too, if oil sells below it's previous higher low then the buy will be more authentic

which low do you mean

That's the low, if taken out which is not possible, so that's it, but oil will continue rising

Ooh okay I see it now

It will take a long time to sweep that low

It may not really sweep that low except it forms a structure at the supply region , just like I have presented in the image but that's not really achievable so it may not happen

Price is already bullish, it will be difficult for it to sell off easily

My plan is selling or buying nas100 base on the breakout and retest concept

Price is reacting off that order block. You can check it out

My plan is selling or buying nas100 base on the breakout and retest concept

While it still maintains this internal bullish channel, i won't be expecting good momentum sells. Most sells will just be sharp reactions with quick reversals.

Price is buying above those highs but my fear is that the zone is an order block level, buying there will be very risky

Yeah. It's just best to leave it be, until there's a good retracement on higher timeframe that will complement the buys and once the retracement ends, then one can join the buy continuations.

I won't trade it today, let me see the outcome around that level

Price is breaking above London highs, though caution is to be taken because there is a resistance level at that zone

Yeah true

You should look out to how it will react from there

Alright. Volume has slowed down as well.