USD/CAD Trend in Today's European and American Trading Sessions
✍ ✍ ✍USD/CAD news:
➡️ The USD/CAD pair continued its downtrend for the fourth consecutive day as selling pressure on the US dollar remained dominant.
➡️ Concerns that Trump's tariffs could lead to a US recession, prompting the Fed to cut interest rates, weighed on the greenback.
➡️ Meanwhile, overnight declines in crude oil prices weakened the Canadian dollar, providing some support to the pair.
➡️ Additionally, traders appeared hesitant to take fresh positions ahead of upcoming jobs reports from both the US and Canada.
Personal opinion:
➡️ The USD/CAD pair is showing signs of a bullish recovery after entering oversold territory. This bodes well for the pair.
➡️ In the long run, the trade war impact will lead to more risks for currencies like CAD. So this is still an advantage for the USD
➡️ Analysis based on important physical dimensions - support and Fibonacci combined with EMA and trend to come up with a suitable strategy
Plan:
🔆Setting up the price zone:
👉Buy USD/CAD 1.4110– 1.4100
❌SL: 1.3970 | ✅TP: 1.4160 – 1.4200
FM wishes you a successful trading day 💰💰💰
➡️ The USD/CAD pair continued its downtrend for the fourth consecutive day as selling pressure on the US dollar remained dominant.
➡️ Concerns that Trump's tariffs could lead to a US recession, prompting the Fed to cut interest rates, weighed on the greenback.
➡️ Meanwhile, overnight declines in crude oil prices weakened the Canadian dollar, providing some support to the pair.
➡️ Additionally, traders appeared hesitant to take fresh positions ahead of upcoming jobs reports from both the US and Canada.
Personal opinion:
➡️ The USD/CAD pair is showing signs of a bullish recovery after entering oversold territory. This bodes well for the pair.
➡️ In the long run, the trade war impact will lead to more risks for currencies like CAD. So this is still an advantage for the USD
➡️ Analysis based on important physical dimensions - support and Fibonacci combined with EMA and trend to come up with a suitable strategy
Plan:
🔆Setting up the price zone:
👉Buy USD/CAD 1.4110– 1.4100
❌SL: 1.3970 | ✅TP: 1.4160 – 1.4200
FM wishes you a successful trading day 💰💰💰
Trade active
HIt + 60 pips from Buy 1.4112congratulation
Note
Initial goal achievedTP2: 1.4200
congratulation
Trade closed: target reached
HIt + 140 pipsGreat Buy
congratulation
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✅ t.me/+Y9T5_BwC7_JhMWM1
Join now !!!!
Channel: signals - knowledge and FOREX comments
Join now !!!!
Channel: signals - knowledge and FOREX comments
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.