USDCAD - Bullish Bias
USD - Weak Bullish
1️⃣ The US Empire State Manufacturing Index jumped to 30.9 against market expectations of 22.1.
2️⃣ Better-than-expected U.S. retail sales data provided support to the U.S. dollar and boosted investor optimism about the Fed’s earlier policy tightening.
CAD - Strong Bearish
1️⃣ The fall in crude oil prices pushed the CAD to decline further.
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Technical
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The USDCAD has broken the previous resistance level and now become the support.
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Risk to this trade
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Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
1️⃣ The US Empire State Manufacturing Index jumped to 30.9 against market expectations of 22.1.
2️⃣ Better-than-expected U.S. retail sales data provided support to the U.S. dollar and boosted investor optimism about the Fed’s earlier policy tightening.
CAD - Strong Bearish
1️⃣ The fall in crude oil prices pushed the CAD to decline further.
=====
Technical
=====
The USDCAD has broken the previous resistance level and now become the support.
=====
Risk to this trade
=====
Any change in sentiment could turn the pair's direction.
Don't forget to like, comment, and subscribe for more ideas.
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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.