USD/CAD at 11-year highs, but bulls may still tap the brakes this week

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    After Thursday’s bombshell drop in the greenback , US dollar bulls are starting to peek their eyes back out of their bunkers to see that the terrain is much the same as it was before; most importantly, the Federal Reserve is still very likely to raise interest rates next week, in sharp contrast to the easy (and growing easier) monetary policy across the rest of the developed world. As a result, the US dollar index has pared almost have of Thursday’s losses to trade back near the 99.00 level.

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