Dollar firms, stocks slip amid US stimulus doubts
Talks on US stimulus package continue but deal in doubt after [...]
Trading news
USD/CAD Leaned Inverted Head and Shoulders for Bullish Continuation
Despite the excellent data for CAD currency, the USD economy also showed good numbers on Friday. While unemployment is still at 4.7% and wages are going up, we might assume that the economy is very strong and that may lead to another rate hike. I personally believe the US Fed will continue to gradually raise rates in the US leading to gradual USD strength in the medium term.
Technically the USD/CAD is showing bullish SHS pattern (inverted head and shoulders) and is supported at 1.3230. 4h close or strong 1h momentum above 1.3270 could spike the pair up to 1.3312 (ATR target) and 1.3330 (H5), USD/CAD bullish outlook is also supported by bullish divergence, so we could see buying into dips towards 1.3312-30 targets.
Monday, 09 Jan, 2017 / 12:32
Trading news
Up to the US Elections Results
The US economy has recovered modestly in the third quarter thanks to [...]
OIL dropped 2.5% after excess supply – US OIL Market Outlook – 22/10/2020
WTI Crude dropped by more than 2.50%, hitting our short entry support targets, [...]
