This is the second analysis on this series of majors against the U.S. Dollar (USD). In the previous post we analysed the Chinese Yuan Renminbi (CNY) against the USD; now we're taking a look at the Canadian Dollar (CAD) against the USD. The CAD is second in our ranking of currencies in relation to the 'Rate Of Change' (ROC) with the U.S. Dollar as quote currency. With over 2% appreciation in the last quarter (ROC, 15, W), with technicals indicating the nearing of supply zones, we'll be tracking the CAD for countertrend shorting opportunities in the short-term, and longing pullback opportunities in the medium-term, as it approaches previous key levels of demand.
Wish you guys good trading and if you enjoy this analysis, please give me a like and share your ideas on the comments section, I'll really appreciate feedback from you guys and I promise to read and reply to each and every one of them as soon as possible.
An amazing week for all of you and until the next post! :)
Wish you guys good trading and if you enjoy this analysis, please give me a like and share your ideas on the comments section, I'll really appreciate feedback from you guys and I promise to read and reply to each and every one of them as soon as possible.
An amazing week for all of you and until the next post! :)
