Fibonanccy !! USDCAD Hard support zone
Hi trader, Maria would like to share opinion: USDCAD
During the Asian session on Monday, the USD/CAD pair is encountering difficulties in gaining momentum. This decline can be attributed to the weakness of the US Dollar (USD) and the upward movement in oil prices. The volatility in this pair could be influenced by the release of Canadian inflation data and US Retail Sales on Tuesday. Currently, USD/CAD is trading around 1.3645, gradually decreasing by 0.10% for the day.
Regarding the Canadian currency, Governor Tiff Macklem of the Bank of Canada (BoC) stated on Friday that the recent increase in long-term bond rates should not be seen as a substitute for monetary policy and that the economy is not on the verge of an immediate recession. Macklem further mentioned that the central bank will take into account the impact of tighter financial conditions resulting from rising long-term bond rates before its upcoming policy meeting on October 25th.
Signal today: 16/10/2023
🟢 LONG USDCAD area: 1.36400 - 1.36250
Close order: 1.35800
Area profit: 1.36700, 1.37300
Good luck everyone $$$, Thank you everyone for reading MARIA's article
During the Asian session on Monday, the USD/CAD pair is encountering difficulties in gaining momentum. This decline can be attributed to the weakness of the US Dollar (USD) and the upward movement in oil prices. The volatility in this pair could be influenced by the release of Canadian inflation data and US Retail Sales on Tuesday. Currently, USD/CAD is trading around 1.3645, gradually decreasing by 0.10% for the day.
Regarding the Canadian currency, Governor Tiff Macklem of the Bank of Canada (BoC) stated on Friday that the recent increase in long-term bond rates should not be seen as a substitute for monetary policy and that the economy is not on the verge of an immediate recession. Macklem further mentioned that the central bank will take into account the impact of tighter financial conditions resulting from rising long-term bond rates before its upcoming policy meeting on October 25th.
Signal today: 16/10/2023
🟢 LONG USDCAD area: 1.36400 - 1.36250
Close order: 1.35800
Area profit: 1.36700, 1.37300
Good luck everyone $$$, Thank you everyone for reading MARIA's article
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