RandyFuego
Short

USDCAD 1D Sell opportunity downtrend continuation

FX:USDCAD   U.S. Dollar / Canadian Dollar
USDCAD has been going on a downtrend for some time. Even though it looked like it was about to take off on the last impulse, the breakout was pulled back into the downtrend, meaning that we can expect a continuation of the downward momentum.

We expect the USDCAD to keep the downward momentum for the following months, keeping an eye on oil prices as this influences both of these currencies.

Trade safe with appropriate risk management.

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