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DAY 1 - USDCAD ANALYSIS

Today's NFP numbers were below expectations, as 156K new jobs were added in August, as compare to 180K expected. Moreover, the trend in last couple of months were above 200K. Furthermore, average hourly wages increased to 0.1% and unemployment rate increased to 4.4%, so overall a disappointing numbers, which will put more pressure on US Dollar.
We have seen rapid decline on USDCAD in last 4 months as the pair dropped around 1400 pips. Further decline is expected in coming months, as Canadian eco…
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DAY 13 - USDCAD ANALYSIS

In last few weeks Canadian economy have shown signs of improvement across the board and with recent agreement by oil producing countries to cut output could result in higher oil prices and it would benefit Canadian economy in near future.
From technical perspective USDCAD have declined from the highs of 1.3580 and price is currently testing Daily demand zone at 1.3118. I am expecting further downside pressure on this pair and a test of next demand zone around 1.2900 level. However, should he pai…
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DAY 12 - USDCAD ANALYSIS

Oil remain at the center of attention in recent weeks with majority of oil producing countries are in favor to limit production. On the other hand today's FOMC meeting hinted a possible rate hike by Fed's in December 2016. So USDCAD remain a tricky pair to trade.
From technical perspective price action on USDCAD on Daily charts indicate price making higher highs and higher lows and there is still lot of room for this pair to go up. 1.3400 is an important resistance level and as such I am expecti…
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DAY 28 - USDCAD & EURCAD TRADES UPDATE

Couple of trades triggered this morning and both closed with nice profit. The trade was entered on retest of Daily demand zone on USDCAD & EURCAD.
The general trend remain bullish, as price continues to make higher highs and higher lows on USDCAD and EURCAD often follows USDCAD, so entered both trades with maximum lot size. Stop Loss and Take Profit was set at logical levels, but decided to cut off trade as price approached important resistance level.
USDCAD +54 Pips Profit
EURCAD +79 Pips Profit
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DAY 28 - USDCAD & EURCAD TRADE UPDATE

Couple of traders closed yesterday with nice take profit. Both USDCAD & EURCAD trade taken at 4 hour important demand zones with take profit targets set at opposing supply. Stop loss were set below the next support level.
However, trades were closed before take profit target was reached due to last trading day of the week.
USDCAD +122 Pips
EURCAD +72 Pips
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DAY 19 - USDCAD ANALYSIS

After a steep decline in USDCAD of around 2200 pips, finally we have seen some bullish momentum developing on this pair. Price is currently testing important daily supply zone and it would be interesting to see how price reacts at this zone. 1.2900 level would be ideal to look for long opportunities on this pair.
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DAY 4 - USDCAD ANALYSIS

What a turnaround in USD/CAD in last couple of days, as the pair is up around 400 pips from major support level at 1.2470. In last few weeks US Dollar remain under pressure against CAD, as oil was going higher. However recent economic data from Canada hinted a slowdown in overall economic growth plus trade deficit was well below expectation and that may have caused the bullish move.
The strong impulsive bullish move could well be the start of bullish trend, as such my view on USDCAD changed from…
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DAY 29 - USDCAD ANALYSIS

Canadian GDP have shown consistent growth in last few months, however February 2016 GDP growth shrank by 0.1% which could be an indication that the momentum could slow down in coming months, as oil prices still remain relatively low and further decline is expected due to excess oil supply and subdued demand.
From technical perspective USDCAD continues to decline and price is currently at an important higher time frame demand zone, as such I am expecting some retracement from this zone in May. Ho…
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нормально

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DAY 12 - USDCAD ANALYSIS

Some important news event lined up tomorrow from US & Canada. First we have retail sales numbers from USA and this data is of utmost importance as consumer spending is essential part of US economic growth.
Then we have Interest Rate decision from Bank of Canada followed by Crude Oil Inventories. While Bank of Canada is expected to keep interest rate unchanged, but their press conference could provide hint of future policies and whether further rate cut is on cards.
From technical perspective USD…
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DAY 25 - USDCAD ANALYSIS

The massive down move in USDCAD caught many traders off guard and including me. Was not expecting, such a sharp reversal on this pair and that too without any reasonable retracement.
This week price reacted at an important demand zone, as this is the zone which actually initiated the last up move, so I would be looking to buy this pair in coming days based on any shallow retracement and signs of strength based on price action.
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