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Sam_Eder

USDCAD - Downside Risks

Short
U.S. Dollar / Canadian Dollar (FX:USDCAD)  
Sam_Eder  
FX:USDCAD   U.S. Dollar / Canadian Dollar
Trend Analysis Beyond Technical Analysis fxrenew trading fx USDCAD DXY USD
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trendanalysis beyondta fxrenew trading fx usdcad dxy usd
We like USDCAD shorts due to three main factors: a dovish shift from FOMC that is weighing on the USD; tensions in Venezuela which are keeping Crude Oil prices up; and finally better domestic data from Canada.
Shorts should keep USDCAD compressed between 1.3100 and 1.3140s on any retracement.
Targets are initially 1.3050, 1.3000.

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