USDCAD - Bullish Bias
USD - Weak Bullish
1️⃣ Investors were cautious ahead of the FOMC meeting, triggering a massive sell-off on the stock market.
CAD - Weak Bearish
1️⃣ The decline in crude oil prices is burdening CAD.
2️⃣ Canadian retail sales are projected to decline in July due to a sharp decline in wholesale sales.
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Technical
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We are looking to buy the USDCAD above the support level.
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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.
1️⃣ Investors were cautious ahead of the FOMC meeting, triggering a massive sell-off on the stock market.
CAD - Weak Bearish
1️⃣ The decline in crude oil prices is burdening CAD.
2️⃣ Canadian retail sales are projected to decline in July due to a sharp decline in wholesale sales.
=====
Technical
=====
We are looking to buy the USDCAD above the support level.
=====
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.
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.
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.