NFP results for USD were not good today and employment change results in CAD was better than expected.
It is very possible USD/CAD is now in a short trend as indicators and candlesticks indicates.
If the 200 EMA is broken, then it's going to go down until it finds support and the trend changes.
It is very possible USD/CAD is now in a short trend as indicators and candlesticks indicates.
If the 200 EMA is broken, then it's going to go down until it finds support and the trend changes.
Note
Bearish trend on the daily on USD/CAD is still present. We can keep shorting this currency pair until signs of reversal. Short with care as we're getting close to 1.24-1.2460 support area for a reversal.
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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.