Strifor || USDCAD-01/05/2024Preferred direction: SELL
Comment: A busy middle of the week, during which we expect large statistics on production and the US labor market, and at the very end we expect the announcement of the Fed interest rate. In addition, we will find out the Fed's prospects for the near future. Against this background, US dollar shorts still look better, at least in the short term.
For the USDCAD currency pair, we consider two scenarios that can be found on the chart. We consider two scenarios simultaneously, since volatility is a common phenomenon against the backdrop of such economic events. We consider the target for the fall to be at the level of 1.37020.
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