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EUR/USD Increases – What About USD/CAD?

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Apr 4, 2016.

  1. Sandra S.

    Sandra S. Forum Member

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    Yesterday, the greenback moved sharply lower against the Canadian dollar despite bullish ADP report and declining crude oil prices as sentiment on the U.S. dollar remained weak after Janet Yellen’s speech. As a result, USD/CAD dropped under important support line. How low could the exchange rate go in the coming days? In our opinion, the following forex trading positions are justified – summary: EUR/USD: short (stop-loss order at 1.1512; initial downside target at 1.0572) GBP/USD: none

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