Currency of the Week

[FOREX.com]

If you're trying to figure out which currency to trade this week, you may want to look at EUR/CAD. For the past few weeks, EUR/CAD moved 780 pips in under a month. We know the RSI has currently been trending sideways in between 1.4323 and 1.4432 for a week now waiting to break support and resistance levels. With ECB and BOC both having meetings this week, it is likely that volatility in the pair will assist in breaking these levels. Finally, the correlation coefficient is -0.93 for WTI right now giving strong indication that it will move in a negative direction. Knowing crude oil's correlation with EUR/CAD in the past, if crude oil moves higher, EUR/CAD will continue its trend lower.

What are some other things that you focus on when deciding what to trade for the week?