USDCAD-opposite to the safe heaven assets

16 Mar 2020

USDCAD

The CAD movement is mostly based on the movement in oil market.

*As the Canada is one of the major oil exporting countries and their economy is also depends on this type of oil based industries

*After touching the march low which is 1.33250 it has reached almost 1.40000 level

*We can expect short term fall back towards 1.36400 which is also a 50% Fibonacci

*Suitable long positions may opened at this level

*Potential take profit will be 1.40000

*Stop lose may placed below the 100 EMA zone as i marked in the chart

*Leave your valuable comments related to this pair

17 Mar 2020

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