USD/CAD faces downside pressure as the Loonie outpaces the decline in the USD Index. The pair has dropped sharply, reaching the support level of 1.3300 after encountering resistance at 1.3320. Upbeat oil prices provide support for the Canadian dollar, as investors anticipate a neutral interest rate policy from the Federal Reserve. This positive sentiment reduces fears of a US recession. Traders should monitor oil prices and the Fed's stance on rates. The Loonie's accelerated decline suggests a bearish sentiment. Overall, there is downward pressure on the USD/CAD pair, but careful analysis of economic and geopolitical factors is essential for informed trading decisions.
Nicola, CEO of Forex48 Trading Academy
Nicola, CEO of Forex48 Trading Academy
Nicola Capiotto | EdgeTradingJourney
I document my trading around work and triathlon.
I document my trading around work and triathlon.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Nicola Capiotto | EdgeTradingJourney
I document my trading around work and triathlon.
I document my trading around work and triathlon.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.