In our previous analysis, we predicted that USDCAD will gain some momentum and will continue to increase, but instead it came under heavy bearish pressure and made a new low. The move was influenced by the strong Canadian labor market report.
This week we expect the pair to rise and face some resistance around the $1.26 area that, but we will have to wait for a confirmation, as the pair can continue making new lower-lows.
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.
This week we expect the pair to rise and face some resistance around the $1.26 area that, but we will have to wait for a confirmation, as the pair can continue making new lower-lows.
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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