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USDCAD

USD CAD (US Dollar / Canadian Dollar)

The US Dollar vs. the Canadian Dollar is a very popular currency pair due to the extremely large amount of cross border trading that occurs between the U.S. and Canada. The CAD is considered to be a commodity currency because of the large amount of natural resources, especially oil, that are mined and exported to southern neighbors. The USDCAD is one of the most traded currency pairs in the world.
 
We have a bulish sentiment for the next 3 days and a bearish sentiment for a longer period as market switch to Risk On mode and we should see the Dollar strengthen agais commoditys currency`s. As trade war is easying, so far no really big action from China. 
Factor to take in considaration, Conference Board (CB) Consumer Confidence wich  measures the level of confidence consumers have in the economy date will be announced today at 1500 Uk time, tomorrow  Gross Domestic Product (GDP) and The National Association of Realtors (NAR) Pending Home Sales Report. Keep listening for any Trump development in relation to trade war or any contra part form China.

Comments

  1. Monetise Trader5 April 2018 at 01:22

    Just as We forecast , the Head and Should did build up, after move low did come back to test the neck line and moved below the MA200. Did a re-teste on the MA and moved lower again.
    https://www.monetisetrader.co.uk/2018/04/usdcad-as-we-forecast.html

    ReplyDelete

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