USD is weakening in strength and the USD INDEX is hitting major resistance which translates into a weaker CAD. Adding to this analysis is the falling oil price, which CAD is highly dependent on.
Order flow is looking good as well with NZD +6 and CAD -6.
hey men, obviously you are a pro, with all due respect, shouldnt the entry level be at 0.92, just above the support?
thanks.
Tradinggrouptw
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Hello :) Don't focus too much on the exact price but more on the actual area of past demand.
pete002
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A weaker dollar would translate to a stronger CAD, therefore a weaker USDCAD
Tradinggrouptw
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These currencies are sisters, USD/CAD are both weak, therefore not a recommended pair to trade since order flow is going against both of these currencies.
thanks.