Strifor || USDCAD-01/03/2024
Preferred direction: SELL
Comment: For the USDCAD currency pair, scenario №1 is already active, but we also do not forget about scenario №2 since there is a possibility that the American currency will strengthen in the short term. It should be noted that the Canadian currency, as well as metals, now has one of the strongest bullish power, that is, according to technical analysis and generated volumes, one can suppose about the likely growth of these instruments. Therefore, here it will be difficult for the American currency to achieve significant success if it strengthens.
This trade is medium-term, so several entry levels are considered that are located above the current price. The downside threshold is currently considered at the level of 1.35000.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: For the USDCAD currency pair, scenario №1 is already active, but we also do not forget about scenario №2 since there is a possibility that the American currency will strengthen in the short term. It should be noted that the Canadian currency, as well as metals, now has one of the strongest bullish power, that is, according to technical analysis and generated volumes, one can suppose about the likely growth of these instruments. Therefore, here it will be difficult for the American currency to achieve significant success if it strengthens.
This trade is medium-term, so several entry levels are considered that are located above the current price. The downside threshold is currently considered at the level of 1.35000.
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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