USDCAD Market Outlook | Daily Forex Market BreakdownUSDCAD
UC has pushed to the downside a bit more. Watching UC very carefully. Like a lot of other pairs right now UC is looking really good and is at a real make it or break it level.
We need to be a bit more patient and we will have a ton of amazing set ups for us to choose from. So just sitting on my hands for the time being.
Usdcaddaily
USDCAD LONG @ DAY CHARTUSDCAD
Due to the trade deal truce the oil prices are shoot up because of that the CAD also gaining some positive momentum at this time
In day chart the 100EMA and 200EMA has crossed towards downward this will attract more sell
The next target for bear is 1.30400 level
From this pint we can initiate the buy orders
And the potential take profit will be 1.33300 its around 290 pips
Stop lose may placed at 1.29900 level for high risk reward ratio
leave your valuable comments..
Bullish positioning on CAD is slowly diminishingUSD still enjoys high carry 2.6% vs EUR over, making short USD positioning unattractive. No currency in the G10 FX space offers a higher yield than the dollar.
Market expectations earlier in the year that policymakers will not be able to fulfill their tightening ambitions turned to bets that the next move in interest rates will be down as the economic outlook deteriorated while the trade war saga dragged on.