There are two main reasons why I choose SELL USDCAD for the being time:
- Firstly, there is an undoubtable fact is that Canada economic data gradually become better, and I think this will transfer to Canada GDP on Friday.
- Secondly, the M&A deal between Burger King and Tim Hortons benefits for Loonie.
About Technical view:
- USDCAD broke the I show on the chart, and the + indicator show large divergence with the price, and there is room for SELL position.
- USDCAD rejected 1.10 key level many times, so if it cannot break this key , it will fall down as a result.