usdcad

USDCAD faced with a strong US dollar


USDCAD 

The Canadian dollar paired with the US dollar is not easy. The Canadian Economy Kept a steady standard of living for its citizens. The changes were so small that the strength of the country remained unchanged. The country is not very popular in the media, so what more could you want? At the moment, investors want an economic improvement. Tomorrow’s macroeconomic data indicate a possible increase in the number of unemployed people in Canada, which is not good for the currency. Such a paradox in this situation that it is optimistic to increase employment. These are contradictory data just as important for currency strength. The direction of the price will be determined by the reading which will confirm which data will deviate more from the forecasts and will have a greater impact on the price of the currency pair. Additionally, we must bear in mind the optimistic forecasts for America. Personally, he remains out of the market for this pair at least until the chart is clear. I will start taking the long position into consideration after fulfilling the condition shown in the picture.

macr

USDCAD

How do you rate this article?

1


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/

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.