Forecast – BULLISH

Date Posted:       18 December 2019

Currency Pair:     USDCAD

Current Trend:    DOWN

Forecast Move:    UP

Key Tech Level:    1.3174

Potential Opportunity

Trade Action:   BUY

Take Profit        1.3261            +75 pips

Entry                  1.3186

Stop Loss           1.3161              -25 pips

Outcome:

Chart & Forecast Details

The CAD has been pulled and pushed around on various geopolitical influences but recent Canadfian economic data suggests a slowing economy. If today’s Canadian CPI data comes in weak then we’ll surely see USDCAD pop through the recent short term downtrend. On top of that if Oil falls back towards $57 it will definitely run to the topside.

Key Trade Day: Wednesday 18th Nov – Canadian CPI

Brad Gilbert

CEO & Founder of Traders4Traders – Brad has been trading for 28 years and was a former Chief FX Trader for Citibank. Brad trades all markets and all timezones.

Trades: EUR, GBP, AUD, NZD, CAD, JPY, CHF, DOW, SP500, OIL, GOLD

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