Sirwin
Sirwin

The Canadian is weakening in the chart


USDCAD

It can be seen that the US dollar is running out of strength to further push the rate up. The upcoming data also does not indicate large differences in the previous readings, which proves that the optimism is running out. If we look at the data for Canada on Friday, we can see that the forecast is very optimistic, so we can expect a strengthening of the Canadian dollar. Canada's expected employment is over 200,000 more so far, while unemployment is falling.

In the image I have marked the place where consolidation can take place in anticipation of Friday, but there we should already have an action plan. Breaking the level will give a signal for a deepening of the price and further declines.

usdcad

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Biznes-Broker
Biznes-Broker

Trader, cryptocurrency and forex market analyst. Editor of investor magazines: EN: http://biznes-broker.com/ PL: http://pvq.pl/ By giving me a tip you donate it to charity. All collected funds will help children and animals in need.


Analysis of the financial markets
Analysis of the financial markets

Subjective view of the financial market. Mainly Forex, Indexes and Commodities. Analyzes based on technical analyzes. All analyzes are my view of the market. It is not recommended to make trading decisions based on the information provided. You can check my work here: EN: http://biznes-broker.com/ PL: http://pvq.pl/

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