Short USDCAD
USDCAD looks like it could keep going down for the coming week.
Long-term trend is up, but it looks like it's hit the 1.2900 cap, couldn't break it, and has a solid downward day candle coming down from 1.2900.
Supporting news: Mixed NFP on 9 March with high employment change but lower earnings than expected (with an already lower forecast), relatively better CAD news with better-than-expected unemployment rate and positive (lower than expected) employment change.
MACD looks good for this trade on H4 and D1.
This trade would be 1:1 for risk:reward ratio, but may still be worth considering because it seems likely to keep going down to 1.2673 as it did before in October, November, and December 2017.
Long-term trend is up, but it looks like it's hit the 1.2900 cap, couldn't break it, and has a solid downward day candle coming down from 1.2900.
Supporting news: Mixed NFP on 9 March with high employment change but lower earnings than expected (with an already lower forecast), relatively better CAD news with better-than-expected unemployment rate and positive (lower than expected) employment change.
MACD looks good for this trade on H4 and D1.
This trade would be 1:1 for risk:reward ratio, but may still be worth considering because it seems likely to keep going down to 1.2673 as it did before in October, November, and December 2017.
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