The USDCAD pair may test the 1.2 level in the short term

April 28, 2015

Sell on a level breakthrough of 1.2083 with 1.2000 target. Stop loss = 1.2140.

Reason for the trading strategy
The weakness of the US dollar against the euro puts pressure on the USD/CAD pair, despite the adjustment of the WTI crude oil prices to $56 per barrel. In the coming days the likelihood of the pair testing the 1.2 level is high. Today, the publication of the Conference Board consumer confidence index in the US may provide little support for the world's reserve currency.


Publication source
EXNESS information  EXNESS reviews

February 17, 2017
Golds rally may falter
The gold price has racked up its 2nd straight day of gains today on the back of US dollar weakness and doubts over an interest rate hike next month from the US Federal Reserve...
February 16, 2017
Where is black gold heading?
The Euro is slowly going down and this is not brought on by the Eurozone situation. Instead, this is fueled by the U.S. Dollar. Yesterday, Janet Yellen gave a speech in the Senate Banking Committee emphasising the fact that it Is not quite right to use the wait-and-see stance regarding the interest rate hike...
February 14, 2017
Will France exit the euro?
The Euro has come under pressure late in the European session today, after analysts warned of the huge costs that France would face should they decide to ditch the European currency...

FxPro Rating
Fort Financial Services Rating
Cms Trader Rating
Orbex Rating
Larson&Holz IT Ltd Rating
OctaFX Rating

OptionTrade Rating
Binary Brokerz Rating
99Binary Rating
Dragon Options Rating
TropicalTrade Rating
IQ Option Rating