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Instrument: USDCAD+
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.37767 with take profit at 1.37998
Bearish Preference:
Sell position is envisaged if price trades below 1.37407 with take profit at 1.37164
Fundamentals:
1:30pm CAD CPI m/m
CAD Median CPI
CAD Trimmed
Comment:
The minor gains in the U.S. currency Wednesday stopped the recent correction from its multi-decade peak of 114.78 reached at the end of September. Risk sentiment has been on the rise of late, helped by the reversal of the U.K.’s ill-fated unfunded tax-cutting plans, solid corporate earnings boosting equity markets, and warmer weather helping European gas prices drop.
Analysis: SCRUM Team
