USD/CAD trend remains constructive
The structure on USD/CAD continues to favour the buyer—week after week the pair grinds higher without much corrective pullback.
The structure on USD/CAD continues to favour the buyer—week after week the pair grinds higher without much corrective pullback. I am watching for a continuation of the move that took it near 1.4200 earlier, and the fact that we bounced off the lows intraday tells me dip buyers are still active.
That said, I respect that the weekly bar is stretched, so a brief consolidation wouldn't surprise me. For now the risk/reward points to the long side as long as the weekly range holds. I'll let price tell me if that changes.

Comments5