KarimNaguib
Long

SENTIMENT FAVORS USD DUE TO GREECE RISK: Long USDCAD

FX:USDCAD   U.S. Dollar / Canadian Dollar
28 0 0
The Canadian dollar             is entering June with a weakening bias, responding to the broader shift in the US dollar             amid a reassessment of the balance of risks to U.S. growth. For CAD, the key development appears to have been a re-balancing of drivers, with a rising focus on the relative central bank policy outlook amid an ongoing moderation in concern over the oil             price shock. Oil             price movement will remain a key risk for CAD; however, its significance appears to be fading with the BoC’s shift in focus toward the U.S. recovery.

My CAD forecast looks to modest downside into year-end, with a Q4 target of ( USDCAD             at 1.28).

Technical wise, I believe this a good entry point to go long off a couple of weeks of price retracement and a bullish weekly hammer indicating USD buying.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out