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USD - BULLISH
1️⃣ Safe-haven demand was supported by a resurgence in coronavirus infections and geopolitical tensions between the US and China.
2️⃣ July U.S. ISM manufacturing highest since March 2019.
CAD - BEARISH
1️⃣ Flash data from Canada’s statistical office showed the GDP will likely shrink by a record 12% in Q2 due to coronavirus lockdowns.
2️⃣ Crude oil staying under selling pressure. Second wave of coronavirus and the reduction in OPEC+ output cuts by 2 million barrels per day from August to December continue to weigh on crude oil prices.
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Technical
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📊 We buy USDCAD on RBS level + SMA 50 area.
📊 USDCAD in bullish zone.
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MONEY MANAGEMENT
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💵 Please use only 1-2% risk per trade or you can use recommended lot in pinned message.
1️⃣ Safe-haven demand was supported by a resurgence in coronavirus infections and geopolitical tensions between the US and China.
2️⃣ July U.S. ISM manufacturing highest since March 2019.
CAD - BEARISH
1️⃣ Flash data from Canada’s statistical office showed the GDP will likely shrink by a record 12% in Q2 due to coronavirus lockdowns.
2️⃣ Crude oil staying under selling pressure. Second wave of coronavirus and the reduction in OPEC+ output cuts by 2 million barrels per day from August to December continue to weigh on crude oil prices.
=====
Technical
=====
📊 We buy USDCAD on RBS level + SMA 50 area.
📊 USDCAD in bullish zone.
=====
MONEY MANAGEMENT
=====
💵 Please use only 1-2% risk per trade or you can use recommended lot in pinned message.
Trade closed: stop reached
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