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USDCAD is looking very weаk

by Neville Hornsey
29 April 2021
in Forex
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USDCAD is looking very weak, due to the US monetary policy and rising energy prices. The Bank of Canada in their latest assessment of the Canadian economy was relatively hawkish and since the 20th April the Canadian dollar as appreciated further. We are getting very close to testingthe lower bounds of a 5 year consolidation pattern and with a continuation of the trend this pair could accelerate to the downside.

For more trading details, please check the hyperlinks with time stamp indicated from the video:

0:14 USD/CAD

3:08 LCrude

3:56 US DOLLAR INDEX

4:29 GBP/CAD

4:45 EUR/USD

Tags: Crude oilEURUSDForex AnalysisGBPCADUS DollarUSDCADWTI
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