USDCAD Bullish?
Negative news regarding Coronavirus "possible pandemic"? USD strengthening as safe haven currency. Global equities fell this past week.
Oil demand is weak. Weakens CAD.
Monthly FIB shows possible retracement towards the upside of 1.3650.
USD economy continues to chug along at moderate strength in comparison to Canada (not bad, but US still stronger) prior to negative Coronovirus news.
Can the USD hit 1.3650 this year? Reversal seen after Jan 1st 2020 (Fib 0.50)
Ascending wedge is obviously on the monthly chart.
Technically speaking, I'm LONG with fundamental support gained from current market conditions.
Oil demand is weak. Weakens CAD.
Monthly FIB shows possible retracement towards the upside of 1.3650.
USD economy continues to chug along at moderate strength in comparison to Canada (not bad, but US still stronger) prior to negative Coronovirus news.
Can the USD hit 1.3650 this year? Reversal seen after Jan 1st 2020 (Fib 0.50)
Ascending wedge is obviously on the monthly chart.
Technically speaking, I'm LONG with fundamental support gained from current market conditions.
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