USD/CAD – Week 5 – Heading towards 1.30.
The US Dollar increased its gains against the Canadian Dollar as the economic projection for the US Economy remained on track.
As we forecasted, the price strongly breached the trendline nearly reaching the 1.29 levels, with expectation growing higher that this week we will reach 1.30 levels. There is a slim chance that we will make a new low, however we will focus on the bullish move that it is expected at this moment in time.
Keep an eye on Friday’s unemployment data numbers that will be released for both economies as it will create some volatility
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.
As we forecasted, the price strongly breached the trendline nearly reaching the 1.29 levels, with expectation growing higher that this week we will reach 1.30 levels. There is a slim chance that we will make a new low, however we will focus on the bullish move that it is expected at this moment in time.
Keep an eye on Friday’s unemployment data numbers that will be released for both economies as it will create some volatility
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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