USDCAD: strengthening of the US dollar
The Bank of Canada is increasingly preparing the markets for tightening monetary conditions in the country by both reducing the size of bond purchases and raising rates in the second half of 2022. However, the Canadian economy's dependence on oil continues to be a weak link for CAD, tying it to the growth prospects of the global economy and manufacturing.
It is assumed that in the context of the expected general strengthening of the USD, the USDCAD currency pair is inclined upward from the current levels.
Proposed deal for this tool:
Entry Point - 1.26378
Stop Loss - 1.25843
Take Profit - 1.26914
It is assumed that in the context of the expected general strengthening of the USD, the USDCAD currency pair is inclined upward from the current levels.
Proposed deal for this tool:
Entry Point - 1.26378
Stop Loss - 1.25843
Take Profit - 1.26914
Trade active:
The trade has been updated to Break-even🙌
Trade closed: target reached
