USD/CAD – Week 2 – Will the Bulls react?

The Canadian Dollar increased its gains against the U.S. Dollar as Coronavirus surge impacted the labor market negatively for both United States and Canada. We pointed out in our last week analysis that we expected the price to gather some momentum for a daily pullback. As it stands, the price might go lower than it is right now, but our focus will be on the bull market that is closely approaching ignoring any price devaluation for this pair. Our advice for now is to be patient and avoid chasing the trade, instead let it come to you and strictly respect your guidelines.
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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