Instrument: USDCAD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.24888 with take profit at 1.25356.
Bearish Preference:
Sell position is envisaged if price trades below 1.24343 with take profit at 1.23797
Fundamentals:
No major fundamentals
Comment: USD/CAD continued to move lower on Friday, with the market now testing the mid-February 2018 low at 1.2452. We still look for a more concerted effort to hold here into today’s close to maintain the choppy back and forward price action. However, a direct and closing break lower would instead suggest an acceleration of the core bull trend trend to recover some of those major falls.
Analysis: SCRUM Team
