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Buyers in the USDCAD taking a breather

Buyers in the USDCAD taking a breather

The USDCAD has raced higher in trading today and in the process really had limited corrective price action. There was a brief consolidation after the better-than-expected GDP, but it has been racing back to the upside over the last few hours. However, the last 20 minutes have seen a rotation to the downside. The buyers are taking a breath.

What next?

When the market trends, I like to watch the 38.2% – 50% correction zone of the last trend leg. That leg started at 1.3536 and exten... Read More

Posted: Nov 29 2022, 17:52
Author Name: forexlive
Views: 111953

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