Sometimes we need a catalyst in the market to make things move, the USDCAD traded just above an important level for more than week, in a very tight range (mostly untradeable), but on Friday, just after the Canadian unemployment report, the USDCAD broke an important long term support level:
I’m bearish in the USDCAD and looking for short opportunities.
If you asked me if I think the USDCAD will reach parity in the near future, I would say yes.
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