USDCAD remains in the downtrend from 1.3174, the bounce from 1.2887 could be treated as consolidation for the downtrend.
USDCAD remains in the downtrend from 1.3174, the bounce from 1.2887 could be treated as consolidation for the downtrend.
Further decline is still possible after the consolidation and next target would be at 1.2800 area. Resistance is at 1.3000, only a breakout of this level could signal completion of the downtrend.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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