positionforex

USD/CAD ready to bounce

Long
FX:USDCAD   U.S. Dollar / Canadian Dollar
Crude Oil's rally would appear to be over and with will go CAD's strength, The retracement of the rally now lands in the vicinity of old support and the 61.8% retracement seen on the chart. As the trend and OBOS indicators have begun to turn up price will lead them higher.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.