Hello dear traders. Here my idea to USDCAD . we will expect short term bearish continuation to 1.2948 level.
Technical Outlook : USDCAD price breakout from the rising channel and we expect bearish continuation to the 0.5 Fibonacci level.
Fundamental Outlook : Oil prices rises on potential OPEC cuts and Iran nuclear deal uncertainty. CAD will strengthen as oil demand. US manufacturing PMI and Global services PMI data are below the expected values .So USD demand will decline short term.
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Good luck to you.
This idea does not provide the financial advice.
Technical Outlook : USDCAD price breakout from the rising channel and we expect bearish continuation to the 0.5 Fibonacci level.
Fundamental Outlook : Oil prices rises on potential OPEC cuts and Iran nuclear deal uncertainty. CAD will strengthen as oil demand. US manufacturing PMI and Global services PMI data are below the expected values .So USD demand will decline short term.
Traders, if you liked this idea or have your opinion on it, write in the comments. Please like and subscribe to my profile.
Good luck to you.
This idea does not provide the financial advice.
Trade closed: target reached
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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.