📌 USDCAD
A short idea which is essentially intended to cast some more light over the election positioning moves
We played a very nice momentum move this morning after breaking through the WEAK Tokyo defence 👇
The process of continuing is automatic for algos,...
The pair is trading in a downtrend, following the general dollar decline in the recent months.
However, each pair has its own limits and not all of them can strengthen towards the dollar indefinitely for a number of reasons.
Some will stop appreciating sooner than others.I do not want to say that USD/CAD is now suddenly...
💬 As confirmed coronavirus cases ticked up in the US at a faster rate than in the other countries shown on the chart (a selection of EU countries Germany, Italy and Spain, the UK, Canada, and China) we have seen a subsequent weakness in the US dollar compared to the currencies of those countries (as seen by EURUSD, GBPUSD, CADUSD, and CNYUSD).
As you can see...
We touched the bottom support line of the triangle. It heads towards the blue horizontal resistance line. Trading with a small stop loss.
Best regards EXCAVO
