USDCAD - LONG
Hi,
So we are seeing this pair push lower from an area of resistance (a move that has likely been accelerated by BOC decision to keep rates low)
We are waiting for price to come to the support level marked, and for price to begin to reject this area, before taking a long - PLEASE NOTE THE POSITION MARKED IS JUST INDICATIVE
From a more fundamental perspective - Oils push below $40 per barrel will have a greater detrimental impact on CAD strength than USD
So we are seeing this pair push lower from an area of resistance (a move that has likely been accelerated by BOC decision to keep rates low)
We are waiting for price to come to the support level marked, and for price to begin to reject this area, before taking a long - PLEASE NOTE THE POSITION MARKED IS JUST INDICATIVE
From a more fundamental perspective - Oils push below $40 per barrel will have a greater detrimental impact on CAD strength than USD
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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.