USD/CAD – Week 6 – $1.30 level on sight.
USDCAD ended the Friday session with a daily low within the 1.2760 area, despite the release of a very disappointing Canadian labor market report for January.
Our focus for this week will be on a price increase that can push the pair upwards 300 pips, but not before this consolidation is completed. We will monitor the support area that we highlighted on the chart as it could be a good area for the buyers to charge their orders. Don’t forget to be patient and don’t jump in any trade without a proper setup.
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.
Our focus for this week will be on a price increase that can push the pair upwards 300 pips, but not before this consolidation is completed. We will monitor the support area that we highlighted on the chart as it could be a good area for the buyers to charge their orders. Don’t forget to be patient and don’t jump in any trade without a proper setup.
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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