USDCAD SHORT

16 feb 2020

Hello guys in this video i show why i see a short in cad fro the next few days and a long term long bias. My bias shaped by the fact that i see along in oil and since oi and cad are correlated i see short term weakness in usd and strength in cad. I see weakness in usd since the Dow has been weakening showing that investors are putting their money in safe havens and away from usd stocks especially with elections nearing. Although i am careful since i know we have an upcoming fomc meeting on Wednesday meaning they will likely be bullish of their economy especially with the impressive fundamental data that has been coming out of the usa. So meaning i see a short until fomc, the short will also offer many investors good risk reward when it comes to fomc which is likely going to be bullish for the fomc