This is the second analysis on this series of majors against the U.S. Dollar (USD). In the previous post we analysed the Chinese Yuan Renminbi ( CNY
) against the USD; now we're taking a look at the Canadian Dollar
(CAD) against the USD. The CAD is second in our ranking of currencies in relation to the 'Rate Of Change' ( ROC
) with the U.S. Dollar as quote currency. With over 2% appreciation in the last quarter ( ROC
, 15, W), with technicals indicating the nearing of supply zones, we'll be tracking the CAD for countertrend shorting opportunities in the short-term, and longing pullback opportunities in the medium-term, as it approaches previous key levels of demand.
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An amazing week for all of you and until the next post! :)