Trade Analysis / Chart in Focus: USD/CAD The USD/CAD closed up for the third week in a row. The weekly charts are now setup for a short with the 4 hour chart leading the way. USD/CAD Outlook This pair has seen a decent run the past few weeks but beware […]
USD/CAD Forecast – Outlook & Analysis
US Dollar takes more losses to Canadian dollar
The strong downtrend continues for the eighth consecutive week in a row where price had made a lower low.
Interesting to note that on Friday’s daily chart price closed up and in a bullish engulfing pattern. Too soon to begin looking for long entries but the first sign of a possible counter trend rally has taken place and now traders much watch to see if the downtrend resumes out of this pullback or if today’s price action is a sign of a counter trend move to come.