USD/CAD news:
🔆USD/CAD rallied yesterday as Trump outlined clear tariffs including those on Canada and Mexico from March 4
🔆DXY maintained its third consecutive day of gains after the US Q/Q GDP was released as expected, indicating that the US economy remains solid after the tariff preparations
🔆However, on the technical side, the RSI (1H) indicator after entering the overbought zone has shown signs of divergence against the pair, so there will be a short-term correction before the main uptrend continues
Personal opinion:
🔆USD/CAD still maintains a strong upward momentum after the latest economic and financial news - the latest tariff policy has more influence on the strength of CAD.
Analysis:
🔆Based on important resistance - support and Fibonacci levels combined with EMA34 to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy USD/CAD 1.4420 – 1.4410
❌SL: 1.4390 | ✅TP: 1.4460 – 1.4500 – 1.4540
FM wishes you a successful trading day 💰💰💰
🔆USD/CAD rallied yesterday as Trump outlined clear tariffs including those on Canada and Mexico from March 4
🔆DXY maintained its third consecutive day of gains after the US Q/Q GDP was released as expected, indicating that the US economy remains solid after the tariff preparations
🔆However, on the technical side, the RSI (1H) indicator after entering the overbought zone has shown signs of divergence against the pair, so there will be a short-term correction before the main uptrend continues
Personal opinion:
🔆USD/CAD still maintains a strong upward momentum after the latest economic and financial news - the latest tariff policy has more influence on the strength of CAD.
Analysis:
🔆Based on important resistance - support and Fibonacci levels combined with EMA34 to come up with a suitable strategy
Plan:
🔆Price Zone Setup:
👉Buy USD/CAD 1.4420 – 1.4410
❌SL: 1.4390 | ✅TP: 1.4460 – 1.4500 – 1.4540
FM wishes you a successful trading day 💰💰💰
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
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.