USDCAD - End of Correction for CAD
Fundamental Analysis
Retail sales data are lower than expected, indicating a slowdown in the Canadian economy
Technical Analysis
USDCAD reacted strongly at SMA20, showing that the downtrend has weakened
During the 4th trading session, the price surpassed the peak of 1.3713, forming a new structure. An unsuccessful retest of the 1.3659 support zone will cause the pair to reverse and rise again.
Trading plan
Buy limit 1.3659 Stoploss 1.3630 TP : 1.3780
Retail sales data are lower than expected, indicating a slowdown in the Canadian economy
Technical Analysis
USDCAD reacted strongly at SMA20, showing that the downtrend has weakened
During the 4th trading session, the price surpassed the peak of 1.3713, forming a new structure. An unsuccessful retest of the 1.3659 support zone will cause the pair to reverse and rise again.
Trading plan
Buy limit 1.3659 Stoploss 1.3630 TP : 1.3780
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