I hold a bearish position for the USDCAD and look forward to his return to the region of C $ 1.2720.
The Bank of Canada continues to take a cautious stance, promising an increase in the rates of "over time". In good condition, an average of 0.07% in April and 0.27% by July). I am waiting for the fall of the US-Canada bonds and the USDCAD decline in this medium term.
The bullish momentum is weakening, and the DMI indicators confirm a probable change of trend. Within the last wave of growth, the pair rested on the most important resistance C$1.2950 and could not break above. On the 4-hour chart, a double top was formed, the technical realization of which is the area C$1.2720.
The Bank of Canada continues to take a cautious stance, promising an increase in the rates of "over time". In good condition, an average of 0.07% in April and 0.27% by July). I am waiting for the fall of the US-Canada bonds and the USDCAD decline in this medium term.
The bullish momentum is weakening, and the DMI indicators confirm a probable change of trend. Within the last wave of growth, the pair rested on the most important resistance C$1.2950 and could not break above. On the 4-hour chart, a double top was formed, the technical realization of which is the area C$1.2720.
