USDCAD has broken the bearish trendline to the upside.
The bullish divergence has been confirmed.
At the macroeconomic level, this currency pair is also waiting for the results of the NFPs also because they will come out together with the Canadian labor market.
Employment Change is expected do fall and Unemployment Rate is expected to rise.
This could lead USD to rise against the CAD up to the weekly resistance of 1.3365.
Stop below the minimum and let the trade run!
Cheers,
Andrea
The bullish divergence has been confirmed.
At the macroeconomic level, this currency pair is also waiting for the results of the NFPs also because they will come out together with the Canadian labor market.
Employment Change is expected do fall and Unemployment Rate is expected to rise.
This could lead USD to rise against the CAD up to the weekly resistance of 1.3365.
Stop below the minimum and let the trade run!
Cheers,
Andrea
Updates Soon!