This morning during US session had an up thrust most likely by design (notice highlighted long wick on chart) — failed retest –of Friday’s high @ 1.2166 before falling back down near the lows.

The USDCAD is most likely data/oil inventory dependent. I expected a decline in USD weeks ago but it took a while for the market to catch up or was I early? The Bank of Canada raised interest rates .25 point while the FED has paused with a much reduced probability of a rate hike in December. I believe the pair is most likely range bound with occasional spikes up/down until it can break Friday’s high 1.2166 would recommend selling the rally or watch another currency pair i.e. sell EURUSD seems going to plan.

USDCAD 1H - Intraday

One thought on “USDCAD Intraday”

  1. Charles Bidner says:

    Thanks John, not much CAD data this week so this pair would rely on USD movement I feel.

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