USD/CAD – Week 18 – Indecision territory.
In our previous analysis, we correctly forecasted that USDCAD will break the low again.
For this week the price may continue to fall, but at some point, we expect the US Dollar to gain some momentum against his Canadian fellow and start a bullish move. A nice confirmation for the bullish move will be a break of the resistance area that we highlighted, followed by a small correction.
Friday will be a busy day for both currencies as the investors wait for the US NFP & Unemployment rate data, as well as the Canadian Unemployment rate. This could impact the pair massively and act as a trigger for the bullish move that we anticipate to happen.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For this week the price may continue to fall, but at some point, we expect the US Dollar to gain some momentum against his Canadian fellow and start a bullish move. A nice confirmation for the bullish move will be a break of the resistance area that we highlighted, followed by a small correction.
Friday will be a busy day for both currencies as the investors wait for the US NFP & Unemployment rate data, as well as the Canadian Unemployment rate. This could impact the pair massively and act as a trigger for the bullish move that we anticipate to happen.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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