Big moves from the USDCAD yesterday as Oil inventories pushed the pair higher and the FOMC gave us a good selling level as we expected that rates would be unchanged. Price moved down to the S1 area as mentioned and has gained strength from this important support. The fact that Russia wants to get off the dollar standard for the price of Oil might be the kicker right here as Oil is looking like it might be a a high-level. If this is in fact a reversal we would look for any retracement lower or a retest of support in order to get a good risk reward entry on this pair based on price action.

Trade Safe 🙂

USDCAD H1

USDCAD H1

USDCAD D1

USDCAD D11

3 thoughts on “USDCAD AT IMPORTANT SUPPORT”

  1. Kerem says:

    Thanks for the look Guy!

  2. Daniel Chan - Forex.Today says:

    Thanks Guy , your analysis help my CADJPY trade .

  3. Ryan Gandalf van Jaarsveld says:

    Thanks guy!

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