The USD/CAD pair went sideways initially on Thursday and then ended up turning around and collapsing. This is mainly due to the Canadian GDP numbers
The USD/CAD pair went sideways initially on Thursday and then ended up turning around and collapsing. This is mainly due to the Canadian GDP numbers coming out stronger than anticipated. The 1.25 level below looks to offer support though, but if we can break down below there after the jobs number, I’m willing to start selling rapidly. Any rally at this point in time could be a selling opportunity as well, unless of course we make a fresh, new high. I expect to see plenty of volatility, as the liquidity could be a bit thin.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
