The USDCAD bounced off the 8ema today and began it’s descent to our 1.26 area as was mentioned last week. Also if you take a look at the H4 chart you can see that price bounced off of the Weekly pivot point which in turn means we could expect price to drop close to S2 by the end of week, just as we planned. In Canadian news today the prime minister will be giving the country a stimulus of 11 billion $ this year and 14 billion$ next year. Poloz said that a .5% increase in interest rates were planned for this year and another .5% for next year due to this stimulus and the gain in oil prices.In the long term if everything keeps going this way it seems like the USDCAD pair hasn’t finished its decent, without a few hiccups of course. But in the mean time lets stay focused on our 1.26 level and see where we go from there.

Happy Trading

USDCAD D1

USDCAD D1

USDCAD H4

USDCAD H4

5 thoughts on “USDCAD BACK TO PARITY? 23-03-16”

  1. Tyler Lund says:

    Nice work Guy.

  2. kspreier says:

    I think you mean “parity” and “descent”. Do you have an analysis for parity this year?

    1. Guy Pelletier says:

      @kspreier yes indeed i mean parity and descent, sorry quick writing typos. As far as analysis for parity, its a long term game that possiby by this time next year we could see parity due to canadian stimulus, but we all know that’s a long term away and a lot of things can happen until then.

  3. daniel chan says:

    Thanks Guy. I am looking for opportunity buying Cad. since oil seems to be climbing up.

    1. Guy Pelletier says:

      @ Daniel i’d wait for a 38.2 retracement before buying for CAD

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