USD/CAD -17/2/2021-
• First descending short term trend line was broken
• Second descending long term trend line is the next target (near 1.2780)
• Before that lies the 50-day moving average near 1.2750
• USD picking up pace after strong retail sales data
• Long positions should be short lived since the CAD is supported by rising oil prices
• Second descending long term trend line is the next target (near 1.2780)
• Before that lies the 50-day moving average near 1.2750
• USD picking up pace after strong retail sales data
• Long positions should be short lived since the CAD is supported by rising oil prices
Ramzi Abou Abdallah, CFTe, CMT
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