USD/CAD - Week 1 - Daily consolidation expected
The Canadian Dollar gave us false hope thinking that it could possibly weaken in the short to medium-term and that it could start a bigger Daily consolidation, but right now it seems like it will go one more time and break the mid-December low. We can observe that the weekly sentiment is bearish, and it seems that soon the price will start a deeper pullback move. Our bias stands towards a price increase so, we will ignore any bearish move for now. The trigger for our analysis could be on Friday, due to the Non-Farm Payrolls and Unemployment Rate news for the US Dollar, as well as the Unemployment Rate data release for the Canadian Dollar.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Trade closed manually:
Almost break even. Next week we expect a strong US Dollar.
