We like USDCAD shorts due to three main factors: a dovish shift from FOMC that is weighing on the USD; tensions in Venezuela which are keeping Crude Oil prices up; and finally better domestic data from Canada.
Shorts should keep USDCAD compressed between 1.3100 and 1.3140s on any retracement.
Targets are initially 1.3050, 1.3000.
Shorts should keep USDCAD compressed between 1.3100 and 1.3140s on any retracement.
Targets are initially 1.3050, 1.3000.
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Join over 42,000 traders and get the Forex Course for Smart Traders - 17 in-depth lessons - always 100% free at MarketMates.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.