surgeinsider
Long

USDCAD- Long on downward pullback

OANDA:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD- 4hrs

TA Wise:
More upside with the level ranging within a channel. A small pullback is happening now, good time to enter a position on a bull flag .

FA Wise:
Fundamentally, commodity currency will not be doing well with oil price sell down, hence there will be a downward pressure on CAD.
Demand for Oil will continue to head down as airlines cut down on their international and domestic travel.
USD dollar is being seen as a safe hedge now where more traders are hopeful for its strength to go up.

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(Disclaimer: This is non-financial advice, any past performance, projection, forecast or simulation of results is not necessarily indicative of the future or likely performance of any investment.)

Comments

I will monitor it with you, with this view
Reply
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