Strifor || USDCAD-22/05/2024
Preferred direction: SELL
Comment: After another price fixation at the level of 1.36000, we are again considering an approach to this level through two scenarios. It should be noted that a fall below 1.36000 is not expected, so it will be very important to exit on time. The most likely scenario №1 involves a fall actually from current prices near the level of 1.36557. Scenario №2 is more conservative, but at the same time less likely today, which involves a fall from the level of 1.37020.
In general, most likely in the short term, the main competitors of the US dollar will strengthen their positions, however, considering the more global picture, there is a high probability that the US currency will win back all its lost positions.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: After another price fixation at the level of 1.36000, we are again considering an approach to this level through two scenarios. It should be noted that a fall below 1.36000 is not expected, so it will be very important to exit on time. The most likely scenario №1 involves a fall actually from current prices near the level of 1.36557. Scenario №2 is more conservative, but at the same time less likely today, which involves a fall from the level of 1.37020.
In general, most likely in the short term, the main competitors of the US dollar will strengthen their positions, however, considering the more global picture, there is a high probability that the US currency will win back all its lost positions.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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