USDCAD - BULLISH BIAS
USD - BULLISH
1️⃣ Safe-haven demand was supported by a resurgence in coronavirus infections and geopolitical tensions between the US and China.
2️⃣ July U.S. ISM manufacturing highest since March 2019.
CAD - BEARISH
1️⃣ Flash data from Canada’s statistical office showed the GDP will likely shrink by a record 12% in Q2 due to coronavirus lockdowns.
2️⃣ Crude oil staying under selling pressure. Second wave of coronavirus and the reduction in OPEC+ output cuts by 2 million barrels per day from August to December continue to weigh on crude oil prices.
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Technical
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📊 We buy USDCAD on RBS level + SMA 50 area.
📊 USDCAD in bullish zone.
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MONEY MANAGEMENT
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💵 Please use only 1-2% risk per trade or you can use recommended lot in pinned message.
1️⃣ Safe-haven demand was supported by a resurgence in coronavirus infections and geopolitical tensions between the US and China.
2️⃣ July U.S. ISM manufacturing highest since March 2019.
CAD - BEARISH
1️⃣ Flash data from Canada’s statistical office showed the GDP will likely shrink by a record 12% in Q2 due to coronavirus lockdowns.
2️⃣ Crude oil staying under selling pressure. Second wave of coronavirus and the reduction in OPEC+ output cuts by 2 million barrels per day from August to December continue to weigh on crude oil prices.
=====
Technical
=====
📊 We buy USDCAD on RBS level + SMA 50 area.
📊 USDCAD in bullish zone.
=====
MONEY MANAGEMENT
=====
💵 Please use only 1-2% risk per trade or you can use recommended lot in pinned message.
Trade closed: stop reached
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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.