USDCAD - Bearish Bias
USD - BEARISH
1️⃣ Renewed bets the Federal Reserve will not tight monetary policy anytime soon. Recent comments from several Fed officials helped to calm investors' worries over a jump in inflation and the need to pull back support.
CAD - BULLISH
1️⃣ Rising crude oil prices on the back of heightened hopes for a steady recovery in global energy demand continue to provide a boost to the commodity-related loonie.
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Technical
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We are looking to sell the USDCAD at SBR + below SMA50 on the H1 chart.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
1️⃣ Renewed bets the Federal Reserve will not tight monetary policy anytime soon. Recent comments from several Fed officials helped to calm investors' worries over a jump in inflation and the need to pull back support.
CAD - BULLISH
1️⃣ Rising crude oil prices on the back of heightened hopes for a steady recovery in global energy demand continue to provide a boost to the commodity-related loonie.
=====
Technical
=====
We are looking to sell the USDCAD at SBR + below SMA50 on the H1 chart.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Trade active
PENDING ORDER TRIGGEREDTrade closed: stop reached
❌ TRADE HAS HIT SL-20 PIPS
Risk-off tone has boosted the safe-haven currencies.
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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.
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.