USDCAD
Feb. 1, 2016, 12:08
Sell on a level breakthrough of 1.3947 with 1.3810 target. Stop loss = 1.4000.
Reason for the trading strategy
In November, Canada's GDP grew by 0.3% (m/m), while the US GDP fell from 2% (q/q) to 0.7% (q/q) in Q4 2015. The statistics support the Loonie. Once the current adjusting decline in the oil prices stops, the USDCAD pair will again test the level of 1.3947.
USDCAD, H1
Feb. 1, 2016, 12:08
Sell on a level breakthrough of 1.3947 with 1.3810 target. Stop loss = 1.4000.
Reason for the trading strategy
In November, Canada's GDP grew by 0.3% (m/m), while the US GDP fell from 2% (q/q) to 0.7% (q/q) in Q4 2015. The statistics support the Loonie. Once the current adjusting decline in the oil prices stops, the USDCAD pair will again test the level of 1.3947.
USDCAD, H1
USDCAD: consolidation in the range of 1.3947-1.4147
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