USD/CAD – Week 12 – Correction could start.
Updated
At the end of this week, USD/CAD started to lose some bearish steam, as the sharp decline in crude oil prices and in the Canadian retail sector affected the pair.
In the coming week, we expect the “Loonie” to start a much-needed corrective move and face some resistance around the trendline. If we make a break-out from them, we expect the price to increase even further, towards the $1.27 resistance level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
In the coming week, we expect the “Loonie” to start a much-needed corrective move and face some resistance around the trendline. If we make a break-out from them, we expect the price to increase even further, towards the $1.27 resistance level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed: target reached
Related publications
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.