USD/CAD longs in play
There are four reasons I like a USD/CAD long:
1. FOMC on hold and 1 hike this year with three in 2019 priced into the dollar. dollar strength in the near term.
2. Oil has been sold off heavily recently (although this looks set to correct with Saudi Arabia's 500K output cuts and OPEC ready to cut output too)
3. USMCA discrepancy between Canada and the US. See here.
4. USD has been very strong in 8 of the last 10 years in November.
I like a long from USDCAD 1.31600 which is the 50% fib, 100EMA and daily pivot point.
