Strifor || USDCAD-10/05/2024
Preferred direction: SELL
Comment: The Canadian dollar stands out from other majors today as Canadian labor market data is expected to be released. Previously, we adhered to sell priority and the targets for the previous trading idea can be considered closed.
Ahead of today's statistics, we remain bearish and highlight two main scenarios. Scenario №1 is a fall from current prices, that is, a continuation of the fall. If this option is not implemented, then most likely it is better to look for an entry point according to scenario №2. We fix the target for sale at the level of 1.36000.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: The Canadian dollar stands out from other majors today as Canadian labor market data is expected to be released. Previously, we adhered to sell priority and the targets for the previous trading idea can be considered closed.
Ahead of today's statistics, we remain bearish and highlight two main scenarios. Scenario №1 is a fall from current prices, that is, a continuation of the fall. If this option is not implemented, then most likely it is better to look for an entry point according to scenario №2. We fix the target for sale at the level of 1.36000.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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